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UK tourism hits record high providing welcome boost to hotel market
2012 has seen the UK firmly in the spotlight ringing in events such as the Queen’s Diamond Jubilee earlier this month and with the Olympics just around the corner it is no surprise that tourist levels have, as a result, seen a significant increase as international visitors arrive en masse, eager to soak up the jubilant and festive atmosphere.
According to the Visit Britain International Passenger Survey (IPS), April 2012 saw 2.9 million visits from overseas during which £1.4 billion was spent, a 10% year-on-year increase.
This increase in tourist volume has had a ripple effect on spending also as in the year to April 2012, spending totalled £18bn representing annual growth of 5%.
Although London will undoubtedly experience high volumes of visitors due to the upcoming Olympics, it’s not only the capital that will see the majority of traffic as cities outside the Capital also enjoy an increase in numbers with tourists keen to experience everything that that the UK has to offer.
Nowhere is this more evident than York which ranks second in a league of hotel occupancy rates for 2011 (STR Global) and was also voted Britain’s’ favourite small city in 2011 according to a YouGov Independent Poll, 2011.
This is good news for hotels as increased demand means that occupancy levels will remain high and in turn generate more income. There has never been a more lucrative time to take advantage of these healthy occupancy levels and invest in a hotel room.
Ray Withers, Chief Executive of leading UK property Investments experts, Property Frontiers says:
“As with any investment, it is essential to look at supply and demand and really the figures speak for themselves with tourist numbers reaching an all-time high and spending increasing. With hotels in the provinces achieving a 1.4% increase in profit per room as a result of a 4.8% increase in RevPAR, York stands out as a solid investment choice.”
For investors who wish to cash in on York’s growing tourism demand and flourishing hotel sector, look no further than Tulip Inn at Burn Hall, a fully operational and trading hotel 20 minutes from York.
Investors are able to purchase an en-suite hotel room for £49,950 which is then leased back to the hotel owner who manages the room on the investors’ behalf. Demand for this particular investment property has been staggering so to snap up one of the remaining 5 units please contact Property Frontiers on +44 207 993 8888 or visit www.propertyfrontiers.com.
Caribbean property market spices up with the launch of the new Cinnamon Suites at Bacolet Bay
Having only narrowly escaped Drachmageddon with the election of Greece’s pro-bailout party, on-going instability in Italy and a further downgrade for Spain, more and more investors are looking outside the troubled Eurozone for their next property purchase.
One location heralded by many, including the Sunday Times recently, as a safe haven for investors is the Caribbean. Not simply the perfect combination of white sandy beaches, a tropical climate and relaxed pace of life, the Caribbean, and in particular the “spice island” of Grenada in the West Indies, offers a very attractive emerging property market, one with lucrative returns.
For much of the Caribbean, tourism remains the driving economic force with an estimated 23.8 million visitors in 2011, an increase of 3.3% over 2010 according to the Caribbean Tourism Organisation. The small yet idyllic island of Grenada, a protectorate of the UK, alone welcomed 116,398 overnight guests in 2011 (the majority from the USA, Canada and Europe) and an additional 309,574 cruise ship day visitors.
Ray Withers, Chief Executive of Buy Property abroad experts, Property Frontiers, exclusive agents marketing the new first-time released Cinnamon Suites at Bacolet Bay Beach Resort, comments,
“Unlike some neighbouring Caribbean islands and indeed many other countries around the world, Grenada’s economy is growing with a 1.5% GDP increase expected in 2012 (IMF) and this turn is attracting rising levels of foreign direct investment, especially from China and SE Asia. Furthermore, the World Travel & Tourism Council has predicted Grenada to be the fastest growing market in the Caribbean between 2011 and 2021 making it a very attractive place to invest.”
In line with growing tourism demand, the Caribbean hotel sector as a whole is thriving with improvements seen in all three key performance metrics in 2011 according to data from STR Global. Occupancy levels rose to 61.8% in 2011 with the average daily rate up 2.6% to US$167.54 and RevPAR up by 5.2% to US$103.57 – the highest year-end occupancy, ADR and RevPAR reported since 2008. However hotel room supply in the Caribbean remains limited with only three new properties opening in 2011, increasing room supply by a mere 0.9% whilst demand in the region rose 3.5%.
And it is this discrepancy between supply and demand that the Cinnamon Suites at Bacolet Bay Beach Resort addresses. As Ray Withers explains,
“The 5* Bacolet Bay Beach Resort, located on a secluded 300m long white sandy beach on the southern shores of the tropical island paradise of Grenada, 15 minutes from the international airport, is already 50% sold out yet due to the rising demand for luxury accommodation on the island, the new spacious Cinnamon Suites which enjoy sea views from one of the highest points on the resort, are now available exclusively through Property Frontiers.”
The perfect lifestyle investment, Cinnamon Suites at Bacolet Bay Beach Resort are available from $248,500, 30% below independent valuations with a 3 year rental guarantee from 7.2% pa and 4 weeks personal usage. In addition the developer’s guaranteed Buy Back option 3 years after completion provides a profitable exit strategy. Completion and the opening of phase 1 is due in the second half of 2013 and the project will include waterfront restaurant, bars, swimming pool, spa, gymnasium, pontoon and walkways, tennis courts and a panoramic reception.
With only a limited number of units available with the assured Buy Back 3 years after completion, contact the Investment Property for sale experts at Property Frontiers today on + 44 (0) 207 993 8888, visit www.propertyfrontiers.com for more information.
Investor interest hots up as Caribbean voted top holiday destination this summer
Investor interest in Caribbean property is hotting up in line with the tropical temperatures with the news that these idyllic islands have been voted the top holiday destination this summer by British Airways customers.
Beating sunny contenders such as South Africa and perennially popular Florida, the Caribbean emerged as the clear winner with British holidaymakers – not wholly surprising considering that this June was the wettest since records began.
Claire Bentley, British Airways Holidays Managing Director, comments: “The thought of relaxing on a stunning beach, in the warm and friendly Caribbean is a real draw as the summer weather continues to be a bit of a let-down.”
As one of the main economic drivers, touristic appeal remains a high priority for many Caribbean nations. The region as a whole saw a positive 3.3% increase in visitor arrivals (23.8 million) in 2011 compared to 2010 according to the Caribbean Tourism Organisation.
Indeed accessibility continues to be paramount to the tourism success of many islands and those, such as the spice island of Grenada, with direct flights to international destinations including the UK, USA and Canada stand a better chance of not only maintaining but increasing visitor levels in the future.
Ray Withers, Chief Executive of Property Frontiers, exclusive agents marketing the new first-time released hotel suites at Bacolet Bay Beach Resort on the island of Grenada, comments,
“It is very encouraging to see that, even despite the global economic downturn, Caribbean tourism levels continue to rise. Grenada alone welcomed 116,398 overnight guests and some 309,000 cruise ship day visitors in 2011 and with the World Travel & Tourism Council predicting the island to be the fastest growing market in the Caribbean between 2011 and 2021; we believe that Grenada is the best place to invest in the region.
“In terms of UK property investment opportunities, the vastly undersupplied luxury hotel sector remains one of the most attractive options. Hotel occupancy levels across the Caribbean rose to 61.8% in 2011 and RevPAR reached US$103.57, the highest levels reported since 2008 according to STR Global data. However hotel room supply in the region remains limited with only three new properties opening in 2011, increasing room supply by a mere 0.9% whilst demand in the region rose 3.
Addressing this discrepancy, Property Frontiers has just released for the first time, the exclusive new Cinnamon Suites at Bacolet Bay Beach Resort. Located on a secluded 300m long white sandy beach on the southern shores of the tropical island paradise of Grenada, 15 minutes from the international airport, 5* Bacolet Bay is already 50% sold out yet due to rising demand for luxury accommodation on the island, the new spacious Cinnamon Suites which enjoy sea views from one of the highest points on the resort, are now available.
The perfect lifestyle investment, Cinnamon Suites at Bacolet Bay Beach Resort are available 30% below independent valuations from $248,500, with a 3 year rental guarantee from 7.2% pa and 1 months personal usage. Completion and the opening of phase 1 is due in the second half of 2013 and the project will include waterfront restaurant, bars, swimming pool, spa, gymnasium, pontoon and walkways, tennis courts and a panoramic reception.
Units with the assured 3 year Buy Back are selling fast so contact Property Frontiers today on + 44 (0) 207 993 8888 visit www.propertyfrontiers.com for more information.
Students demand WiFi, ensuites and communal areas from their university accommodation
Wi-Fi, en-suite facilities and communal areas are the most important features for higher education students when choosing accommodation according to a recent survey by Unite, developers and managers of purpose-built student accommodation in the UK.
As well as these demands, Unite also discovered that location, security, price and cleanliness are important factors for a happy student life and as a result, universities across the UK are pushing hard to ensure that they can accommodate today’s student requirements.
While UK universities are working to provide new-build and refurbished student accommodation there is a continuing need for more to be built in order to cope with surging demand. The current shortfall in specific higher education accommodation is reinforced by the Unite survey which discovered that 17% of students currently live at home, while another survey of school-leavers carried out at the end of 2011 found that 16% were planning to live at home in 2012-13.
Ray Withers, CEO of Investment Property for Sale specialists, Property Frontiers, comments,
“Although there has been a very small reduction in student applications this year, most likely caused by the introduction of increased tuition fees, the UK has some of the world’s best educational institutions and we will no doubt see a growth in student applications next year once the dust settles.
“Indeed, it is of the upmost importance that we continue to build high quality student accommodation to meet demand and student’s expectations. Universities alone cannot be responsible and this is why we are now in our 9th purpose built student accommodation project in one the UK’s biggest university cities, Liverpool. These Investment Properties allow us to meet the student demand for housing whilst providing our investors with the opportunity to own one of the best asset classes around. All our completed student projects have achieved 100% occupancy so the results speak for themselves!”
“But it’s not just investors that are a concern to us. We at Property Frontiers are meeting the demands of students with all our student accommodation developments with Wi-Fi, en-suite bathrooms and shared common rooms as standard, all situated in the thriving city of Liverpool.”
One such happy customer Paula Gomez, who is studying in Liverpool, chose to live in Streatlam Tower, one of Property Frontiers previous student projects commenting,
“I came to Liverpool to study English. Since I arrived 4 months ago, each day I am happier living here. The house is well situated near the city centre and all rooms are well equipped with everything you need including Internet and TV. Additionally, each floor has a huge kitchen and several bathrooms. Being away from home is hard but the truth is that living here has made things much easier.”
For global investors looking for the perfect opportunity new high quality private student housing developments such as The Paper Mill, Liverpool could provide the answer.
As the latest student accommodation development from Property Frontiers, The Paper Mill offers en-suite student rooms set within a well located refurbished building in central Liverpool from just £48,000.
Comprising 102 en-suite student rooms, The Paper Mill sits within a superior location; situated in the heart of Liverpool, adjacent to Liverpool One shopping centre and offers investors a 10% NET yield assured in year 1.