The latest research from Visit London and TRI
Hospitality Consulting hints that the capital will see a 12 per cent increase in
new hotel rooms by 2012.
The forecasted increase of 13,300 will take
the total hotel room supply in the capital to over 123,000 by the
time of the Olympic and Paralympic
“The London 2012 Olympic and Paralympic
Games are a huge opportunity for the
tourism industry in London especially in terms of accommodation,”
says Visit London interim CEO, Sally Chatterjee. “Hotel investors and developers
clearly have faith in the long-term ability of the city to attract business,
with the Games providing a valuable
stimulus to bringing forward developments that might otherwise have taken many years to
get off the ground.”
The re-launched Hotel Development Monitor tracks scheduled hotel openings,
development ‘hot spots’ and potential
gaps in the market. Visit London says that despite the recession, future
hotel development remains robust with
development projects concentrated in
the budget and high end markets.
“The visitor economy plays a vital role in
the capital’s economy with over 300,000 jobs in the industry,” says
executive at the London Development
Agency, Peter Rogers.