Since its addition to the HotelBenchmark Survey in January, Belfast has raised its profile to become the top-performing market so far this year in…
Since its addition to the HotelBenchmark Survey in January, Belfast has raised its profile to become the top-performing market so far this year in terms of revenue per available room (revPAR) growth, on the UK edition of the HotelBenchmark Survey by Deloitte.
In August, Belfast reported a 10.5 percent increase in revPAR over the previous year, placing it fourth in terms of growth behind Reading, Cardiff and York – an admirable performance which nevertheless belies the true strength of its performance throughout 2003. Year-to-date, revPAR has grown by 12 percent, driven primarily by occupancy (9.7 percent) from the conference and exhibition market.
Year-to-August 2003 figures show that Belfast occupancies and average room rates are trading roughly in line with the regional UK average. The capital has benefited not only from the shift in public perception over recent years regarding safety, as the political situation in Northern Ireland has stabilized but also from the glut of major conferences and events, such as the Special Olympic Games, that have been held this year. Furthermore the growth in the low-cost airline sector at Belfast International Airport has helped open up travel between the Belfast and mainland UK, where the bulk of non-domestic corporate and leisure business is derived. Latest figures from TBI plc show that during the second quarter of 2003, passenger numbers from low cost airlines increased by 23.6 percent to 756,500.
At this point the only potential black cloud on Belfast`s horizon, apart from any further major political issues, is whether the city can turn in another year of strong conference business in 2004. In terms of supply, although a number of hotel chains have expressed an interest in the city, relatively few have yet to send the builders in. Recent openings have included the 120-room Ramada Belfast, which opened in November of 2002 and a 244-room Days hotel which opened in May this year. A 140-room Radisson SAS is also due to open its doors next year.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
