19th November 2019

210 new London hotels currently in the development pipeline, shows study

There are 210 new hotels currently in the development pipeline in London, shows a study by Boodle Hatfield, the leading private wealth law firm.

Out of the hotels with planning permission, or already under construction, across the capital, almost a quarter (48) of these are in ….

…. Westminster, adding over 6,800 new guest rooms. A further 12 are in the Heathrow area.

Boodle Hatfield says that the pipeline of new hotels being planned shows investors remain optimistic about the London market’s potential for growth post-Brexit.

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The UK’s hotel market is one of the few sectors of the UK economy to have benefited from the Brexit-related slump in Sterling. The decrease in value of the pound has made it cheaper for international tourists to visit the UK and has also encouraged more “staycations”.

The luxury (four and five stars) hotel segment, often focused in Westminster, has attracted visitors from the US and the Gulf, who are among the highest spending tourists.

Rajeev Joshi, Partner at Boodle Hatfield said, “Investor appetite in the London hotel market is holding up. But investors will want to know that this new supply of hotels can be soaked up by increasing demand.

“For tourism to continue to grow, the UK needs to ensure that, post-Brexit, we do not start to be seen as a less convenient destination for tourists from the EU or from further afield. Greater investment in infrastructure will be a key part of this. Accelerating the delivery of projects such as the third runway at Heathrow and the Crossrail would help.”

For further details the number of planned projects by London borough, click here.

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