Licensed Property News: Hotel trade is flourishing
By: Paramount-Magazine Published Date: 15 Dec 2011 17:31
The hotel industry has continued to grow in 2011 despite us being in the midst of a gloomy economic climate.
Mark Blick, managing director of brokerage consultancy Soric International, said that the UK remains a strong place for hotels to operate in and many individuals and firms are still reaping the rewards of moving into the hospitality sector.
"The recession has not prevented the UK hotel industry from expanding as 106 hotels were opened in 2011, containing 11,800 rooms and an additional 170 hotels [with] 21,500 rooms are expected to open in 2012,” he stated.
Mr Blick added that investment from overseas has played a major factor in keeping the industry buoyant and for those in London, next summer’s Olympic Games is set to the hotel business into overdrive.
Indeed, hotels, bars and restaurants in London have been tipped to play a leading role in driving the UK economy out of recession by Oxford Economics and the British Hospitality Association (BHA).
20 Dec 2011
Licensed Property News: Hotel trade is flourishing
Licensed Property News: Hotel trade is flourishing
Licensed Property News: Hotel trade is flourishing
By: Paramount-Magazine Published Date: 15 Dec 2011 17:31The hotel industry has continued to grow in 2011 despite us being in the midst of a gloomy economic climate.
Mark Blick, managing director of brokerage consultancy Soric International, said that the UK remains a strong place for hotels to operate in and many individuals and firms are still reaping the rewards of moving into the hospitality sector.
"The recession has not prevented the UK hotel industry from expanding as 106 hotels were opened in 2011, containing 11,800 rooms and an additional 170 hotels [with] 21,500 rooms are expected to open in 2012,” he stated.
Mr Blick added that investment from overseas has played a major factor in keeping the industry buoyant and for those in London, next summer’s Olympic Games is set to the hotel business into overdrive.
Indeed, hotels, bars and restaurants in London have been tipped to play a leading role in driving the UK economy out of recession by Oxford Economics and the British Hospitality Association (BHA).
4 Nov 2011
Licensed Property News: BBPA plans to rid pubs of red tape lunacy
Licensed Property News: BBPA plans to rid pubs of red tape lunacy
By: Paramount-Magazine Published Date: 02 Nov 2011 12:03
Existing landlords or people looking to buy a pub will be pleased to hear that the British Beer & Pub Association (BBPA) is urging the government to "stick to its guns" on planning reforms that will lead to a reduction in red tape for those seeking to make minor improvements to their premises.
At present public houses and breweries often have to endure long and costly delays when attempting to make often fairly small alterations.
But, at the same time as the BBPA submits evidence on the National Planning Policy Framework, the body is putting pressure on Westminster to follow through with proposed changes to the existing process.
BBPA chief executive Brigid Simmonds said the government is correct to pursue a reforming agenda as it is crucial to the UK’s growth and many jobs depend on it.
"We need a 'can do' culture from councils - and this means a presumption in favour of approving improvements or expansions of small and sustainable businesses like breweries or pubs, whilst of course taking on board legitimate development control concerns," she stated.
Last month Michelin Guide editor Rebecca Burr said that despite gloomy economic circumstances, the pub trade is still flourishing for many, adding “what recession?”
21 Oct 2011
Licensed property news: Pubs taking advantage of growing demand for fine dining
Licensed property news: Pubs taking advantage of growing demand for fine dining
By: Paramount-Magazine Published Date: 19 Oct 2011 14:32
Investors looking to buy a pub and cash in on the enduring strength of the UK hospitality sector are likely to be noting with interest the steady movement towards fine dining in the nation's licensed premises.
Over recent years, the traditional pub model has been, in many places, replaced by the so-called gastro-pub model as landlords recognise the potential benefits of offering good food alongside a friendly welcome and a good pint.
Now, it appears that many establishments are looking to go the extra mile, aiming for the very top of the hospitality market and the financial returns this can generate.
Just this month, the Hand and Flowers in Buckinghamshire became the first pub in Britain to be awarded two Michelin stars, the coveted award for fine dining.
Notably, despite having a world-class chef at work in the kitchen, the historic establishment is still very much a traditional village pub, offering a range of ales on tap and an open fire place.
What's more, the award-winning fare is also affordable, illustrating that investors buying a pub and looking to take advantage of the growing demand for high-quality food needn't go too far away from the traditional model of an English-style pub.
Commenting, Michelin Guide editor Rebecca Burr explained that, while pubs selling just booze may be struggling, those also offering their customers good food tend to be doing well, something that her team see on a daily basis.
She added: "We have inspectors coming back to the office saying 'What recession?'. Many places are thriving."
At the same time, three other pubs in England also won stars in this latest round of Michelin Awards, meaning 13 licensed premises have the world-famous accolade, alongside the 550 establishments listed in its collection of UK guides.
Given that many breweries are closing down and many traditional pubs are struggling for business as consumers continue to keep discretionary spending to a minimum, this could prompt many individual landlords, as well as some pub companies, to diversify into the fine-dining sector over the coming months and years.
Meanwhile, up in Yorkshire, it has been announced that the redevelopment of the former Tetley's brewery in Leeds could take more than ten years to complete.
According to the Yorkshire Evening Post, while the city council has given the green light to plans to revamp the historic site, it could be at least a decade before the building is fully transformed into a mix of new residential and commercial properties.
20 Oct 2011
Licensed property news: Investors may focus on hotels for sale as sector grows
Licensed property news: Investors may focus on hotels for sale as sector grows
By: Paramount-Magazine Published Date: 18 Oct 2011 14:33
Hotels, bars and restaurants in London have been tipped to play a leading role in driving the UK economy out of recession, with this both creating thousands of new jobs as well as numerous opportunities for those looking to put money into hospitality sector property.
While growth in the UK economy as a whole remains sluggish, a spate of news reports indicate that the national hospitality sector is bucking the trend, with hoteliers in particular reporting renewed optimism.
According to a study published by Oxford Economics in partnership with the British Hospitality Association (BHA), tens of thousands of new jobs are set to be created by the sector's growth over the next few years.
Notably, this will go hand-in-hand with the construction and opening of new properties, including hotels and restaurants, again spelling good news for investors keen to tap into this potential.
The newly-published report highlights the importance of the next few months to the general wellbeing of not just the hospitality sector but of the UK economy as a whole.
In particular, it is widely-anticipated that the 2012 London Olympics, as well as the Queen's Golden Jubilee, which will be celebrated next year also, will go a long way towards placing the country firmly on the road to economic recovery, just as prime minister David Cameron noted back in the summer of 2010.
Illustrating the extent to which opportunities for property investment in hotels have picked up over recent months, the study found that more than 50 new hotels have been opened in Wales since 2000, with these creating thousands of people, generating millions for the Welsh economy and potentially helping to generate significant returns for investors.
Such a sense of optimism is supported by a separate report, this one the Hospitality Employment Index published by Caterer.com and People 1st.
According to the duo's joint research, the number of new jobs being created in the sector is growing at its fastest rate for more than two years right now, with the upcoming Olympics again being cited as the main driver of this trend.
Notably, releasing their findings, the pair state that such an upturn in employment opportunities is perhaps the strongest signal yet that the hospitality sector is bucking the national economic trend and going from strength to strength in the face of a possible double-dip recession.
Meanwhile, the UK culture secretary Jeremy Hunt has revealed that the government is in talks with the hospitality sector over the possibility of offering Britons discounted rates in hotels, bars and restaurants in London for the duration of the 2012 Games in order to prevent a mass exodus out of the country next summer.