New research has revealed the UK's top ten hotspots for hotel investment and development.
Colliers International's latest UK Hotels Market Index uses a series of key performance indicators to score each of 34 locations across the UK from one to five.
This year's rankings were topped by Chester, mainly due to good occupancy levels, an upward revenue per available room trend, and a low active pipeline.
Marc Finney, head of hotels and resorts consulting at Colliers International, said: "The data in our second report reveals the ever-changing nature of the UK hotels market.
"Cities such as Oxford and Cambridge have really upped their game in the last year to make it into the top five, despite failing to score in the top 15 last year.
"Of course, this is a general market index and site-specific factors will lead to significant variances but the data demonstrates that London is not the only city that investors should be watching and offers a credible indication to influence their decision-making process."
Here are the top ten UK hotspots for hotel investment and development:
- Chester
- York
- Oxford
- Bristol
- Edinburgh
- Cambridge
- Liverpool
- Manchester
- Leeds
- Birmingham
Colliers International's key performance indices are: land site prices; build costs; market appetite; valuation exit yields; room occupancy; average daily rate; room occupancy rates; four-year revenue per available room (RevPAR) trend; active pipeline as a percentage of current supply and construction costs.
Once the figures have been compiled, ratings are then consolidated into a single figure and ranked to show which are the most desirable locations for investors to acquire an existing hotel or develop a new one.
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