Hotels in Leeds have experienced a growth in occupancy and average room rates, thanks to continued development and investment into the city’s infrastructure.
Following a sluggish performance during the recession, in the 12 months to April 2014, the average occupancy in Leeds hotels rose to 75.4%, and increase year on year of 2.3%. Average room rates reached £67.69, which is a 6.43% increase year on year.
With boutique hotels such as The Queens Hotel, The Metropole and the Cosmopolitan benefitting from this boost, the city is now preparing for further growth in demand over the next 10 years and beyond.
Confidence in the city has also been demonstrated by the opening of big name brands within the area, including Premier Inn at Leeds Arena and the construction of the new Hampton by Hilton close by.
Planning permission has also recently been granted for a four star 90-bedroom Dakota hotel in the city’s business district, scheduled to open in 2016.
The growth of finance market in Leeds is strong, leading to more business-related demand, and this will be backed by major development schemes also continuing, in the Eastgate/Victoria Quarter following on the back of Trinity.
In the longer term the connectivity of the city has the potential for further growth with proposals starting to take shape in relation to the city’s transport links. These are currently centring on expanding Leeds Bradford Airport, the HS2 rail link and the proposed HS3 Leeds to Manchester link.