The Manchester hotel industry saw positive demand and revenue-per-available-room growth during 2013, according to data compiled by STR Global.
Manchester hotels saw increases in both demand and RevPAR across all but one month in 2013. This positive trend was due to corporate travel, with the market’s actual RevPAR peaking in the fourth quarter of the year.
2013 daily data comparisons show weekday occupancy and rate growth outstripped the slowing growth achieved on the weekend, indicating the business segment is resurgent and will fuel the remainder of Manchester’s recovery. In actual terms, weekday RevPAR for 2013 still finished GBP£9.13 behind the weekend average of GBP£56.73.
Manchester’s recovery has not gone unnoticed by developers, as the market’s pipeline includes 4,346 rooms, which will increase supply by 32 percent. The pipeline includes properties ranging from the Upper Upscale segment to the Economy segment. This supply increase will put considerable pressure on future growth.
A diverse range of demand drivers will make the market much more resilient in the face of any further economic instability.
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STR Global provides clients-including hotel operators, developers, financiers, analysts and suppliers to the hotel industry-access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, segmentation data, forecasts, annual profitability, pipeline and census information. Hotel operators can join the surveys on a complimentary basis and benefit from free industry data. STR Global is part of the STR family of companies and is proudly associated with STR, STR Analytics and Hotel News Now. For more information, please visit www.strglobal.com.
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