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Lack of supply sees Nottingham hotel prices rise

Average room rates rise 6 per cent with Hotstats saying it is likely to continue in 2017
08/05/2017

Pictured: Nottingham hotel prices went from £59 in March 2016 to £63 this year

A lull in hotel investment in Nottingham is likely to lead to rising hotel prices, Hotstats has predicted.


Writing in its latest UK chain hotels market review, the hotel watchdog reports average room rates (ARR) in the East Midlands city have already increased 6 per cent when comparing March 2016 to March 2017 (£59 to £63).


It said: "With no new supply expected to enter the market in the foreseeable future, hotels in Nottingham look set to maintain an upward performance trajectory in 2017 and potentially beyond."


Leeds hotels maintained their prices year on year, remaining an average of £75. This was despite occupancy climbing 4 per cent to reach 77 per cent in March 2017, up from 73 per cent the previous year.


Meanwhile, increases in corporate (4 per cent) and conference (12 per cent) bookings at South East hotels led to a 4 per cent rise in ARR, going from £83 in March 2016 to £86 the following year.


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