A rise in value that sees the Liverpool city region visitor economy estimated to be worth £4.3bn a year. Over 2 million rooms sold in 2018, with almost every month showing increased numbers of visitors staying over in the city.
Liverpool is excelling as a staycation destination, with Liverpool’s hotel sector experiencing continued year on year growth, shown in the latest report published jointly between Liverpool City Council and the Local Enterprise Partnership. Yet more evidence that the growth sparked by the European Capital of Culture award almost a decade ago, is still impacting the city today, with continual and sustained upsurge in rooms sold, average occupancy and room rates.
2018 saw the 9th consecutive annual rise in hotel rooms sold. The highest months being August (192,070 rooms) and October (191,203 rooms); this is the first time the city has sold over 190,000 rooms in any single month.
Average occupancy for cities outside of London have remained static at around 76% for the last 4 years, meaning the rise Liverpool is seeing at 82% is considerably higher than the national average. However, it is the increase being seen across average weekday occupancy that is perhaps the greatest improvement, this rose from 77% in 2017 to 81% in 2018, a 5% increase. This is largely attributable to the continued growth of the ACC Liverpool Campus and Exhibition Centre, as well as film and television productions repeatedly being shot in the city.
From an investor perspective, Liverpool is set to enjoy growth in the hotel sector for some time to come with room occupancy set to increase for the foreseeable future and more capacity required year on year.
Invested in hotels and serviced apartments over 12 months
Major hotels refurbished
New bedrooms created
Average Room Rate
Weekend Average RevPar