The United Kingdom’s capital is leading the way when it comes to hotel construction, reports Richard Carr.
Richard Carr operates in the property industry as a Commercial and Residential Development Consultant. He acquires planning permissions on a variety of projects such as hotel, residential and commercial developments.
London towers above Europe
The UK’s capital is quickly becoming a hotbed for property investment. In Richard’s most recent blog he talked about the Abu Dhabi Financial Group’s £370 million acquirement of the New Scotland Yard, the HQ of the Met Police.
And now the hotel industry in London is showing significant signs of growth with more hotel rooms in the pipeline than any other European city.
According to the November 2014 STR Global Construction Pipeline Report, London has a total of 17,919 bedrooms currently under contract.
London was the best performing city of seven European regions:
- London, UK (17,919)
- Istanbul, Turkey (7,487)
- Manchester, UK (4,362)
- Central Moscow, Russia (3,563)
- Greater Amsterdam, Netherlands (3,507)
- Greater Berlin, Germany (2,540)
- Greater Munich, Germany (2,433)
In total, the European hotel development pipeline compromises of 890 hotels, totalling 141,588 rooms. Meaning that London and Manchester combined make up 15% of the European hotel development pipeline.
The data includes projects in construction, final planning and planning stages, but does not include projects in the unconfirmed stage.
Richard Carr’s own hotel developments
As previously mentioned, Richard is a specialist in achieving planning permission for commercial and residential developments. One of his most recent successful planning permissions was the Salterns Marina Hotel in Poole.
Richard was the lead consultant in the creation of the building, which will overlook Poole Harbour. More information about the development can be found under the ‘Developments’ section of Richard’s website.
Tourism on the rise
The development figures in both the north and south of England highlight that tourism is on the rise believes Richard Carr.
The signs are promising for the hotel industry and also the construction and development industry.