The number of hotel rooms in London is expected to grow by 12 per cent over the next three years according to new data compiled by London & Partners and AM:PM, with the increase being driven by an uplift in budget and five star hotel accomodation across the capital.These new properties and hotel extensions will add 17,769 more rooms across the capital over the same period, up from the current figure of 138,769.
The data released to coincide with IBTM World in Barcelona this week, shows that 43 budget properties are expected to open by the end of 2018, with low-cost accommodation in the city predicted to increase by 29 per cent over the next three years.Over the coming three years, 19 five star properties will also open in the capital, increasing the hotel stock in this category by 22 per cent.
Tracy Halliwell, director of business tourism and major events at London & Partners, said: “With the rising number of business and leisure visitors to London and strong occupancy levels across the city, it is great to see that a range of hotel companies are investing in new properties, catering for the demand for both low-cost and high-end hotels.
Rising business and leisure visitor numbers for London have been reflected in record occupancy levels across the city’s hotels. London occupancies have averaged 80 per cent or above since 2006, according to PwC and their UK hotels forecast 2016 predicts a decade high of 84 per cent this year, with the Rugby World Cup having provided a further boost.