Best Western GB has revealed that over two-thirds of its hoteliers are planning to make significant investment to their properties over the next 12 months, despite the “ongoing uncertainties” around Brexit.
The group, which represents around 260 independent hotels throughout the UK, reports that £65m has been invested across its portfolio throughout the last year. It has also confirmed that 72% of its hotels are undeterred by the prolonged Brexit negotiations and continuing with their existing investment strategies.
A number of Best Western GB hotels have invested significantly in the past year, including the Grade II-listed Best Western Plus Dover Marina Hotel and Spa, which has received a £2.3m renovation.
Other significant investments include the Best Western Lothersdale Hotel, which is undergoing a £1.1m renovation to extend the property and create two new luxury spa suites; Best Western Premier Doncaster Mount Pleasant Hotel, which has recently carried out a £480,000 extension and refurbishment of its restaurant.
Additionally, The Lincoln Hotel Sure Hotel Collection by Best Western is currently in the process of a complete overhaul to create more space for a new bar and restaurant concept to overlook Lincoln Cathedral.
The figures are from Best Western’s Investment Survey, part of the group’s Membership Survey, which measures and records the investment intentions of the group’s independent hoteliers.
The hotel group added that the findings reflect a “continued confidence” in the hotel market and the devaluation of sterling, which is boosting inbound tourism whilst strengthening the domestic leisure market.
Andrew Denton, head of member services for Best Western GB, said: “Despite the uncertainties around Brexit, 2019 is proving to be a year of opportunity for independent hoteliers in the UK.
“Our survey findings reveal that property owners are increasingly investing in extra services and infrastructure – such as wider dining options, spa and leisure facilities and bespoke weekend packages – to provide guests with experiences that stand out from their competitor-set, meaning they avoid being drawn into a competition purely on price.”
Paul Bury, director of Best Western Lothersdale Hotel in Morecambe, added: “The Lothersdale has undergone continual investment over the past 66 years and the latest investment builds on our commitment and belief in the town.
“Despite Brexit bringing an unprecedented level of uncertainty and economic downturn, opportunities for domestic tourism are one of the very few potential growth areas throughout this period. With the Eden North project set to open beside our property, it makes sense for us to continue investing to secure the long-term future of our hotel.”
Best Western said the survey results reflect a “robust and resilient” year-to-date performance for Best Western GB, with the group announcing its strongest six-month hotel recruitment performance in recent history. Its portfolio of hotels in Britain has expanded by 13 this year to-date, marked by the recent arrival of the Sure Hotel in Reading to its collection.