The UK hotel market enjoyed a healthy year in 2019 and more hotel plans are in the making, as the market is only expected to grow. As per the Investment Review 2020 Report of the UK Hotel Capital Markets, hotel investments have seen a massive increase of 26%, that is, up to 6 billion pounds.
However, the scenario was entirely different in 2018 when due to Brexit, there was an average of 3% decline due to the uncertain political situation in the UK, in contrast to the average of previous 5 years. Brexit is known as the UK making an exit from the European Union.
In spite of that, London is a popular choice among hotel investors since it consistently remains one of the top tourist attractions in the world. It is expected for London to have more hotels in the coming years. In fact, London alone makes up 43% of hotel investments in the UK.
A lot of luxury hotel projects are in store for 2023 and onwards. Other than that, first-class hotel projects govern most of London's project pipeline, a total of 60%. To learn more, view the infographic below that will introduce you to the plans for 2020 and the next three years for namely London's hotel construction.
Infographic by: TopHotelConstruction