28-30 Apr 2024
Radisson Blu Hotel,
Glasgow,
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08-08 May 2024
Hotel MeliĂ ,
Milano ,
Italy
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10-12 May 2024
China Import & Export Fair Complex,
Guangzhou,
China
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13-16 May 2024
Conrad Chia Laguna Sardinia ,
Italy
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14 May 2024
JPMorgan Chase Headquarters,
New York City,
United States
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18-22 May 2024
The Ravenala Attitude Hotel,
Mauritius
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23-24 May 2024
Large Hall of the Chamber of Commerce (Erbprinzenpalais),
Wiesbaden,
Germany
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30-30 May 2024
Four Seasons Hotel George V,
Paris,
France
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UK hotel industry 'swinging towards luxury' as investors target affluent visitors |
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By Tom Walker 26 Nov 2018 |
Some of London landmark hotels, including the Savoy, are now owned, at least in part, by investors from the Gulf
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The total number of high-end hotels in the UK has increased by 140 in the last two years, while the number of hotels rated three-star and below fell by 110 in the same period.
The figures come from real estate law firm Boodle Hatfield, which suggests that investors in the hotel sector are increasingly banking on attracting more affluent tourists – driving a rise in the number of luxury hotels openings and upgrades in the UK.
Investors from overseas, particularly the Middle East and Singapore, have been key in bringing new investment into the luxury hotel sector in recent years.
Some of London landmark hotels – including the Savoy, the Four Seasons and the Corinthia – are now owned, at least in part, by investors from the Gulf. “There has been a very noticeable shift in investor focus towards the luxury end of the hotel market, as overseas ultra high net worth individuals seek to capitalise on London’s ability to attract affluent visitors," said Adam Chamberlain, partner at Boodle Hatfield. “London is one of the premier centres for wealth management globally, and that is increasingly reflected in the type of tourists the capital attracts. Investors have moved to meet demand from these visitors for luxury hotels. “Wealthy individuals, particularly from the Middle East, have for some time identified the UK luxury hotel sector as a major area of interest, as it blends the capital preservation of London real estate, a strong income stream, and the prestige that ownership of a landmark property offers.” Chamberlain added that the UK’s tourism industry has benefitted from London’s reputation for attracting wealthy individuals. Tourists are forecast to spend a record £26.3bn in the UK in 2018, up 7.1 per cent on 2017 – partly due to a weak pound caused by the uncertainties around Brexit.
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News |
1 to 12 of 8704 news stories |
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25 Apr 2024
Kerzner International has signed deals to operate two new Siro recovery hotels in Mexico and Saudi Arabia, following the launch of the inaugural Siro property in Dubai this February. Designed to offer guests a holistic ... More
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24 Apr 2024
The US spa industry is continuing its upward trajectory, achieving an unprecedented milestone with a record-breaking revenue of US$21.3 billion in 2023, surpassing the previous high of US$20.1 billion in 2022. This data stems from ... More
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24 Apr 2024
Short-term incentives to exercise, such as using daily reminders, rewards or games, can lead to sustained increases in activity, according to new research. Researchers found that even a simple daily reminder encouraged people to move ... More
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24 Apr 2024
Spa and wellness veteran Shannon Malave has been named spa director at iconic US spa destination Mohonk Mountain House. Based in New York’s verdant Hudson Valley and founded in 1869, Mohonk is a historic Victorian ... More
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23 Apr 2024
Six Senses Kyoto opens its doors today, marking the eco-luxury hotel and spa operator’s entry into Japan and a new addition to its urban collection. Situated in the historic Higashiyama district, the 81-key hotel is ... More
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23 Apr 2024
The UAE’s first-ever Dior Spa has officially launched at The Lana, Dubai – the Dorchester Collection’s debut property in the Middle East. Bathed in natural daylight on the hotel’s 29th floor, Dior Spa The Lana ... More
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22 Apr 2024
The Sacred River Spa at Four Seasons Resort Bali at Sayan will reopen later this year with an all-new design plus enhanced treatments and experiences inspired by its river valley home. Nestled amid rich tropical ... More
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18 Apr 2024
The Global Wellness Institute (GWI) has released new data on the US’ wellness economy, valuing it at US$1.8 trillion. According to the organisation's recent report – called The Global Wellness Economy: United States – the ... More
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19 Apr 2024
UK sauna enthusiasts will converge at Galgorm Resort in Northern Ireland next week for the highly anticipated second annual UK Aufguss Championships. Hosted from 22-24, the event will see competitors from across the UK showcasing ... More
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17 Apr 2024
Remedy Place, a US-based social wellness club brand, is poised for steady expansion in the coming years, with plans to open two new clubs annually moving forward Remedy Place is the brainchild of Dr Jonathan ... More
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16 Apr 2024
Swiss longevity brand Clinique La Prairie (CLP) has inked a deal with Montara Hospitality Group to operate a resort at Tri Vananda – a purpose-built wellness community in Phuket, Thailand. Tri Vananda, envisioned as a ... More
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15 Apr 2024
Six Senses has announced the grand opening of its first-ever property and spa in the Caribbean, called Six Senses La Sagesse. With a picturesque beachfront setting and surrounded by verdant hills, Six Senses La Sagesse ... More
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Seed To Skin |
Founded by Jeanette Thottrup in 2018, in Tuscany, Seed to Skin is an award winning skincare line.
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