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BHA examines future hospitality trends
The British Hospitality Association (BHA) has published its 2004 edition of Trends and Statistics.
In the period between July 2003 and December 2004, approximately 3,000 budget rooms have opened. At an average construction cost of £40,000 per room, this represents an investment of £120m.
The remaining 11,000 hotel rooms to open were calculated by the BHA to cost £100,000 per room, which means that new investment in the rest of the hotel industry in the UK in 2003 was around £1.1bn.
In 2005 and beyond, a further 70 hotels are due to open, offering 11,000 more rooms.
The new BHA publication only lists hotels that have opened in the last 18-month period alongside those that are definitely being planned or built for the future.
These statistics do not take into account either expansion or refurbishment projects, which are believed to be worth a further £1bn.
Chief executive of the BHA, Bob Cotton, said: “What is good is that the expansion is in all sectors of the industry – from budget to deluxe. Equally important are the extra rooms and general refurbishment projects throughout the country.
“Taking these into account, this must be the biggest investment in the industry since the late 1960s and represents a huge vote of confidence in the future.” Details: www.bha.org.uk