18th May 2012
Hotel Investment
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The development of Bedford's economy, the projected employment growth and new office, business park and residential developments are likely to fuel strong growth in corporate demand for hotel accommodation over the next 10 years.
Future Market Prospects
Recent research into Bedford suggests the following prospects for future growth in demand for hotel accommodation:
- Forecast growth will fuel corporate demand for hotel accommodation.
- New office locations and business parks will become significant new drivers of corporate demand for hotel accommodation and may be able to support new hotel development in their own right.
- Growth in demand for residential conferences as the economy develops and new companies are attracted. The area is a strong location for footloose corporate conferences, given its central location and excellent road links. Hotel products that have strong appeal to this market, such as country house hotels and golf hotels could attract strong residential conference business therefore.
- Significant growth in demand from the contractors market given the scale of construction work in the growth area.
- Potential for growth in leisure break demand.
- Projected growth in population is likely to result in increased demand for hotel accommodation related to weddings and family parties and from people visiting friends and relatives.
To see the Bedford Growth Area Hotel Investment Fact Sheets June 2010 click here
