Visit London has released the findings of its four-yearly London Accommodation Census which last took place in 2002. The 2006 census, which looks at every accommodation offering from hotels to hostels, reveals a 60% increase in the budget hotel sector which now represents 16% of the entire London hotel market, and 13,650 budget hotel rooms in the Capital.
James Bidwell, Chief Executive of Visit London today commented: “These figures reflect the continued growth of London as a leading destination, and in particular one which offers great value. The increase in budget accommodation will reinforce the accessibility of the city as London continues to increase our number of hotel rooms in the lead up to the 2012 Olympic and Paralympic Games.”
Another key development is the marked Eastward shift in hotel development. Whilst development in the east of London had been happening prior to the Olympics being announced, early anecdotal evidence shows that London 2012 is already having an impact, with Newham, Tower Hamlets and Hackney growing at the fastest pace. This is expected to continue over the next 5 years in the run up to the Olympics.
Stephen Irvine, Development Control Manager at Tower Hamlets said:
“There has been a significant increase in planning applications for all sizes and types of hotels in Tower Hamlets during the last year. Not only are we preparing for the Olympic Games in 2012, but our location between the City and Canary Wharf has created a demand for business accommodation and the regeneration of the East End has provided a fantastic environment in which hotel operators can thrive and expand.”