MAY JUN 17

N E W S
New hotel on cards for Chester
business quarter
Talks ongoing over hotel plan as Chester revealed as number one location for hotel
development
A deal is on the table to bring a hotel to the city?s
new business quarter as Chest er is ranked
number one ?hot spot?for hotel development.
The One City Place building is now open next to
Chest er Railw ay St at ion but it was always
planned there would be more office blocks, 200
new homes as well as leisure, restaurant and
hotel facilities.
And Phil Mayall, regional director of Muse
Developments, who are behind the £100m
scheme, confirmed talks were taking place with a
potential operator about a 120-bed hotel as real
estate advisor Colliers International revealed
Chester is the top UK location for hotel
development and acquisition.
Mr Mayall said: ?Muse is committed to delivering
a truly sustainable environment for occupiers and
their employees at City Place as well as boosting
the local economy.
?The provision of hotel accommodation with
associated ground floor, publicly accessible
facilities will support this ambition as well
maintaining the excellent momentum already
generated through the development and lettings
at One City Place. Discussions are taking place
with a potential operator who would be a perfect
fit for this location.?
Muse says the latest hotel plans
are ?separate?to planning consent
obtained by Waitrose on the other
side of the canal for a scheme
including a 120-bed hotel and
office blocks on land previously
occupied by St Paul?s School.
Meanwhile, the research by
Colliers shows the UK?s top ten
hotspots for hotel investment and
development with Chester sitting
pretty at number one.
Its UK Hotels Market Index uses a
series of key performance
indicators to score each of 34
locations across the UK from one
to five
Chester?s high position is
attributed to factors including
good occupancy levels, upward
revenue per available room trend
and 'low active pipeline', meaning
there is only a small stock of room
supply being developed.
Marc Finney, head of hotels and
resorts consulting, Colliers
International, said: ?The data in
our second report reveals the
ever-changing nature of the UK
hotels market. Cities such as
Oxford and Cambridge have really
upped their game in the last year
to make it into the top five,
despite failing to score in the top
15 last year.
?Of course, this is a general
market index and site specific
factors will lead to significant
variances but the data
demonstrates that London is not
the only city that investors should
be watching and offers a credible
indication to influence their
decision making process.?
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