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Birmingham-based asset management company Switch Hospitality Management Ltd, has said it has continued to experience strong post-pandemic results, as its flagship hotel and events space, Park Regis Birmingham, exceeded pre-pandemic performance.
Whilst the West Midlands’ hotel sector is recording on average 78% of 2019’s sales, bookings for conferences and meetings at Park Regis are currently performing at 142.9%.
Delegate meetings have been a key growth driver for the venue, which hosts an average of 70 events per month and more than 20,000 delegates each year.
Whilst the number of large-scale meetings (120+ delegates) are in line with previous years, bookings for 81 – 120 delegates have grown by 58% on 2019 levels, indicating an emerging trend for smaller yet more frequent events.
The latest figures follow a recent report published by the West Midlands Growth Company, which indicated that the region’s business events sector was bouncing back quicker than the UK average, hosting 78% of pre-pandemic meetings and conferences.
Stuart Gillespie, group commercial director at Switch Hospitality, said: “The hospitality and events space was significantly disrupted by the pandemic, and we are still in a period of recovery, with wider economic challenges, rising inflation and an emerging skills gap.
“However, it is encouraging to see the strength of the region’s response in bouncing back, and we are continuing to adapt our own strategies to ensure that we remain resilient amid evolving market demands, by enhancing our long-stay offering and providing added value for guests at every touch point.”
Direct reservations at Park Regis have also increased from 10.2% in 2019 to 18.8%, and average day rates (ADR) have risen by 11% in the same period, reflecting the quality of the hotel’s’ service offering.
Switch Hospitality Management Ltd provides management and consultancy services for a variety of asset classes, including Build to Rent (BTR), serviced apartments and offices. Alongside Park Regis Birmingham, its portfolio includes St Martin’s Place, Lyndon House, Nite Nite Hotel and the new Aparthotel Birmingham Snowhill redevelopment, which is set to open later this year.
