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LIVERPOOL HOTELS UPDATE – January 2018

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LIVERPOOL HOTELS UPDATE – January 2018 LIVERPOOL HOTELS UPDATE – January 2018 and opened in January 2017 Scotland Road, completed 318 , iced Apartments Serv The Picture House Welcome Welcome to the latest edition of the (Planning & Development queries): Liverpool Hotels Update. Mark Kitts, Assistant Director Investment and Development, Liverpool City Council, Cunard Since 2004, this document has been Building, Water Street, Liverpool L3 1DS published jointly between Liverpool City Tel: 0151 233 0254 Council and the Local Enterprise Partnership. Email: [email protected] It contains detailed information about the Website: www.liverpool.gov.uk range and location of hotels which have been completed, are currently under (Hotel sector performance queries): construction, or are in the pipeline both Peter Sandman, Head of Visitor Economy within the City Centre and outside it. It also Development, Liverpool City Region LEP, looks at hotel performance in the City 12 Princes Parade, Liverpool L3 1BG Centre. Tel: 0151 237 3916 Email: [email protected] We hope that the data included in the Website: www.visitliverpool.biz schedules will be useful to individuals and organisations involved in hotel provision. Should you have any queries, require further Front cover (clockwise from top): Extension to Hope Street Hotel (on site); EasyHotel, Castle Street (completed); information, or have comments on the Quest Apart-hotel (proposed) for Church Street. content of the schedules, please contact: 02 01 Foreword 2017 has been another outstanding year for Liverpool’s hotel sector. Yet again, despite more hotel rooms and serviced apartments opening here, occupancy levels have continued to rise. Weekend occupancy figures in eight out the first 11 months of the year were above an average 90%, some 4% higher than were being achieved in 2008 when we had less hotels than we do today. What is also significant is that room revenues have also risen by just over 10% this year, peaking at £106.64 in April, our traditionally highest scoring month. As always, culture is one of the key elements that we support in order to bring visitors into the city. We have continued the legacy of being a major Cultural City with yet another outstanding list of events having been held in 2017 – and that will continue into 2018 as we celebrate ten years since Liverpool was Europe’s Capital of Culture. Exciting projects for 2018 have been announced including China’s First Emperor and the Terracotta Warriors – coming to the UK for the first time in a generation; the Three Festivals Tall Ships Regatta linking Liverpool, Dublin and Bordeaux; the finale of the Clipper Around the World Yacht Race; Tate Liverpool’s 30th anniversary; Liverpool Biennial’s 10th edition presenting leading visual artists from across the world; and Rewire – a major new art and technology commission led by FACT with Invisible Flock, working with artists from across the globe and communities in Toxteth and Dingle. Alongside these, Liverpool 2018 will also showcase premieres across the worlds of entertainment and sport, new major public artworks, some extraordinary one-off music moments and four artistic seasons each bursting with new commissions exploring China Dream – showcasing the best of modern Chinese culture; The Future World of Work; the Art of Football ; and Nineteen Eighteen – the centenary of the end of the First World War. The city’s unrivalled festival offer – from Africa Oye and Liverpool International Music Festival right through to Milapfest – will mark the year with some of their most ambitious line ups ever, while brand new music events – including a piano festival like no other – will reinforce Liverpool’s position as a UNESCO City of Music. To find out more about our cultural programme for this year, please visit www.visitliverpool.com/2018. Our reputation for providing such a wealth of attractions – boosted by our 2018 cultural programme – has led to Liverpool being named one of the top holiday destinations in the world during 2018 by The Guardian newspaper. This can only be good news for our hospitality sector. Please enjoy reading about what has been achieved in 2017, and about our plans and aspirations for the year ahead. Councillor Wendy Simon Assistant Mayor and Cabinet Member for Culture, Tourism and Events 02 2017 at a glance (city-wide): £21 million invested in hotels £ and serviced apartments 2 new hotels opened, 1 major hotel refurbished, 1 extended 140 hotel jobs created 110 new bedrooms created and 148 serviced apartments 1,680,111 rooms sold (Jan-Oct) (up from 1,658,868 = 1.28% more than Jan-Oct 2016) Average occupancy 78.6% % (up from 76.7% in Jan-Oct 2016) ◙ Weekend occupancy 90.2% (up from 89.1% in Jan-Oct 2016) ◙ Weekday occupancy 76.8% (up from 75.8% in Jan-Oct 2016) Average Room Rate £74.31 £ (up from £72.19 in Jan- Oct 2016) ◙ Average RevPar £58.94 (up from £56.16 in Jan-Oct 2016) ◙ Weekend Average RevPar £90.41 (up from £81.93 in Jan-Oct 2016) FIGURE 1: All hotel performance data © STR Global not to be re-used without written permission Rooms Sold in Liverpool City Centre Hotels, January 2015 – October 2017 Source: Based on figures supplied by Liverpool LEP based on occupancy figures provided by STR Global REPUBLICATION OR OTHER RE-USE OF THIS DATA WITHOUT THE EXPRESS WRITTEN PERMISSION IS STRICTLY PROHIBITED 03 Hotel,Shankly Victoria Street LIVERPOOL HOTEL PROFITS CONTINUE UPWARD TREND 2017 has been another year that has This is also seen against a backdrop of rising numbers of serviced apartments appearing across the City Centre, seen hotel room profits rise to new highs. with some 148 completed during 2017. Whilst average profits per room rose by 4.9%, weekend averages rose from It would seem that the more rooms are built, they and the existing hotels continue to be filled with visitors. October £81.93 to £90.41, a rise of 10.3%. October 2017 saw the highest ever monthly average weekend 2017 saw the highest ever weekend occupancy peak at 94.4%, whilst weekday average occupancy figures have also risen, with July 2017 peaking average room profit (RevPar) peak at at 87.1%. £104.63, the first time it has ever broken through the £100 ceiling. Such rises FIGURE 2: continue to bring confidence to the Average Room Rates, Average and Weekend city’s ever-growing hotel sector. Average Rev Par (Room Revenues) in £s 04 2014* 2015* 2016* 2017* The number of hotel rooms sold in 2017 has seen the 8th Average Room Rate £66.90 £69.88 £72.19 £74.31 successive annual rise, with the end total by December expected to be over 2 million, exceeding 2016’s 1.98 Average Revenue £50.74 £54.35 £56.16 £58.94 million. Half of the months of the year so far have seen (Rev Par) totals higher than previous years, with the highest being Weekend Average £73.70 £78.18 £81.93 £90.41 July 2017 hitting 184,916 – a new monthly record for the Revenue (Rev Par) city. * Based on January to October only These rises come – yet again – at a time when the City Centre’s hotel room stock has risen by a further 110 with the opening of two new hotels this year: the 77 bedroom budget EasyHotel on Castle Street, and 16 boutique bedrooms in the Lock & Key Hotel at 17 Duke Street; whilst the Feathers Hotel on Mount Pleasant extended into an adjoining building to add 17 rooms to its existing stock of 64 and was renamed the Hallmark Inn. 04 Liverpool City Centre hotel facts (as at December 2017): Existing Currently on site 67 hotels/apart- 4 new hotels/apart- hotels/guest houses hotels (up from 37 in 2008) 6,600 bedrooms and 235 hotel rooms & 363 apart-hotel suites serviced apartments (up from 3,481 in 2008) 2,625 hotel-related jobs 150 potential new hotel in the City Centre jobs to be created (1,140 of which created since 2008) £378 million invested in £63 million currently £ 31 new and refurbished being invested in new existing hotels since projects and 2008 refurbishments FIGURE 3: Liverpool City Centre hotel rooms by type, as at 30 December 2017 See Figs 4, 6 and 8 for breakdown by type. Note: this chart only shows existing hotels. New hotels will be added in upon completion at next issue 03 05 Hotel Schemes completed since October 2016 Shankly Hotel, Victoria Street Arthouse Hotel – 1 Arthouse Square COST: £20 million COST: £10.6 million ROOMS: 69 rooms and 22 serviced apartment suites SERVICED APARMENTS: 41 STANDARD: 4 star STANDARD: Apart-Hotel/Serviced Apartments OPERATOR: Signature Living OPERATOR: Signature Living OPENED: (Final phase), November 2016 OPENED: December 2016 Mercure Liverpool Atlantic Tower Hotel Epic Apart-Hotel, 75 Duke Street COST: £2 million COST: £1 million extension to existing apart-hotel ROOMS: 226 (refurbishment) ROOMS: 7 suites STANDARD: 4 star STANDARD: Apart-hotel OPERATOR: Mercure OPERATOR: Epic COMPLETED: February 2017 COMPLETED: August 2017 Lock & Key Hotel, 17 Duke Street Easy Hotel, Castle Street COST: £1 million COST: £3 million ROOMS: 14 ROOMS: 77 STANDARD: Boutique STANDARD: Budget OPERATOR: Independent operator OPERATOR: Easy Hotels Group OPENED: September 2017 COMPLETED: November 2017 06 FIGURE 4: Hotel/Apart-Hotel Provision in the City Centre as at 30 December 2017 EXISTING HOTELS EXISTING HOTELS (continued) Hotel Standard Rooms Hotel Standard Rooms Crowne Plaza 4 star 159 Printworks, Renshaw Street Budget (Boutique) 31 Hard Days Night 4 star 110 The Nadler, Seel Street Budget (Boutique) 106 Hilton, Canning Place 4 star 215 Heywood House Hotel Budget (Boutique) 35 Marriott, Queen Square 4 star 146 TOTAL BUDGET (BOUTIQUE): 3 hotels 172 Novotel 4 star 209 Pullman 4 star 216 Hallmark Inn 4
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