London hotel inventory to increase by 41% in 2020
The London Convention Bureau says that 7,995 hotel rooms across 65 new hotels will open in 2020, adding to 158,956 existing rooms.
This figure has risen from 3,222 in 2010, an increase of 41%.
Total additions to the London hotel market across 2019 and 2020 are expected to reach 121 hotels with 14,840 rooms, a record two-year period for increasing supply of hotel rooms. The range of unique and exciting new hotels will provide meetings, events and incentive planners with further choice for accommodation and meetings venues.
As London continues to attract high levels of leisure and business travellers, hotel operators are catering for all audiences of meetings and events planners. Of the 14,840 new rooms opening this year and next, 10% are 5-star grade, 31% 4-star and 26% are budget hotels.
Significant new global investment in hotels and venues has also contributed to London topping CVENT’s European Meeting Destination rankings for the fifth year in a row. The rankings report highlights London’s wide and eclectic range of hotels and venues, with the UK capital providing meeting and events planners with more choice than any other major European MICE destination.
Compared to other European cities, London ranked highly for its variety of restaurants (1,416), meeting hotels (1,012) and total convention centre space (2,109,000 square meters)2.
A number of North American hotel brands have recently opened up or announced plans for new properties in London, including The Standard which opened its first European hotel in the UK capital in July, joining the recently opened Hard Rock Hotel. The W London Leicester Square, by Marriot, has also undergone a major refurbishment with new in-room technology giving guests an immersive experience.
Later this year, the newly renovated Biltmore Hotel will reopen as the first hotel to join Hilton’s New Luxury Collection – LXR Hotels & Resorts. Japan’s Prince Hotels will also debut The Prince Akotoki later this month, its first European hotel based in London’s Marylebone and showcasing Japanese minimalism.
Looking ahead, Edwardian will open The Londoner, the world’s first super boutique hotel in London’s West End in 2020. The five-star hotel will have 350 rooms, two luxury cinemas and a state-of-the-art ballroom accommodating up to 864 guests. Pan Pacific Hotels Group’s first London footprint, Pan Pacific London, is set to open next year, featuring a 370-capacity ball room at One Bishopgate Plaza. Rosewood will also open a new luxury hotel on the site of the former US Embassy in Grosvenor Square by 2023.
Tracy Halliwell, director of conventions & major events at London Convention Bureau said: “London is a top global destination for leisure and business travellers, and we are delighted to see a record number of new hotels and rooms opening in the capital. We’ve seen a range of exciting and cutting-edge hotels open recently like The Hoxton Southwark, The Stratford and Bankside Hotel, and we look forward to the upcoming openings.”
“London is a truly dynamic city with a range of new venues, hotels and experiences, offering event planners the opportunity to be innovative. We continue to see strong interest from the North American MICE market, with major corporates, associations and conference organisers committing to a whole range of events. London remains an open, diverse city and at IMEX America we look forward to speaking with event planners from all over the world to tell them about all the opportunities in our great city.”