London hoteliers all fired up as Capital named 2012 top travel destination
After a strong year in 2011, the world travel market this year looks set to grow with London proposed as one of the top travel destinations for 2012 according to the “Look Back, Look Ahead” Insider Index from Orbitz, a leading global online travel company.
The travel experts at Orbitz used their industry experience and consumer booking data from millions of consumer searches to highlight the best destinations and travel trends for 2012 identifying that London this year will be marking its place in history as the only city to host the Olympic Games three times.
With around 10,000 athletes and hundreds of thousands of spectators arriving in London between July and August 2012 to witness the games as well as the annual tennis championships held at Wimbledon, the London hotel market in 2012 will be ripe for investment with Mark Wynne-Smith, global chief executive officer of Jones Lang LaSalle Hotels stating recently at the Arabian Hotel Investment Conference: “London and Paris will still be the hottest markets even if the trading performance levels off.”
Ray Withers, Director of Property Investment Abroad experts, Property Frontiers, comments,
“The 2012 London Olympic Games will generate a mass of opportunities. There will huge levels of consumer spending, both before during and after the games as a result of increased visitor numbers not to mention the already occurring and on going development and regeneration of the Olympic Park and nearby areas combined with increased investment in the capital as a result of London’s improved global profile which will continue well beyond 2012.
“With this in mind, one the biggest opportunities for on the lookout investors is the London hotel market that has been forecasted at near double digit growth. 2012 is expected to be a record breaking year for the capital with over 5,000 new rooms opened or re-opened in response to growing demand for accommodation from the Summer Olympic Games and the Queen’s Diamond Jubilee celebrations.”
Indeed as demand in London sky rockets, this year numerous hotel brands including Holiday Inn Express have been popping up around the city, particularly in east London, fuelled not only by the new Olympic Park but also but the creation of new Special Enterprise Zones including the Royal Albert Dock, launch of Westfield shopping centre in Stratford and expansion of ExCel exhibition centre and London City Airport.
With tourists spending in excess of £9.3 billion a year in the city and an increase in visitor numbers, new hotels in the east of London are a welcome addition with a very rare opportunity having emerged for investors.
Affording an enhanced hotel experience, Property Frontiers are allowing investors from all over the world a rare opportunity to purchase an Investment Property seldom accessible to individuals. Holiday Inn Express, London Excel, located at the Royal Albert Dock will allow investors the opportunity to gain affordable entry into the highly sought after, lucrative London market.
Indeed, many investors have been previously put off investing in Hotel rooms due to the lack of a viable exit strategy but with this development there is a buyback plan at the end of the investment term.
Priced at 22% below independent RICS valuations and with VAT paid by the developer, saving investors a considerable £25,000, Holiday Inn Express, London Excel welcomes buyers from all over the world with 50% non-status finance upon completion available.
Set over four floors and consisting of two buildings with 204 en suite rooms, investors can purchase a hotel room on a 199 year leasehold for £125,000 and along with an established Holiday Inn Express brand, investors can enjoy a projected 10.5% net income by year 5 as well as a defined exit strategy.
With immediate effect, Property Frontiers have 10 more units to sell at the current price of £125,000 at the same deal. This will apply until 30th January 2012 only at which point all remaining units will increase to £135,000.