Tune Hotels plans UK expansion worth £200 million

Tune Hotels, which already has eight hotels in operation across the UK and opened a new hotel in Canary Wharf in March 2015, recently confirmed an expansion plan equivalent to £200 million investment into the UK market.

Unveiling plans to open 25 new properties by 2020, the company anticipates this will create significant employment growth in the hospitality sector.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

The company opened its eighth UK hotel this month in Liverpool’s city center. The 100-bedroom hotel on Castle Street was developed by Hotel Land & Development. Work has been underway since late last year to completely strip out the new hotel site, which is adjacent to the city’s Town Hall, and replace it with a contemporary budget hotel.

“Liverpool is one of the key cities in the north-west not only from a commercial point of view, but it also has a long established tourism industry for both domestic and international travellers,” Mark Lankester, chief executive of brand, assets and capital markets at Tune Hotels, said in a statement.

“Last year saw 32 million visitors spending £2.3 billion in the city. 

“This resulted in over 560,000 overnight stays from international visitors, 1.47 million from UK travellers and some 289,000 from business tourism - there is undoubtedly a healthy demand for high-quality yet affordable accommodation. 

“This makes Liverpool the ideal destination for us to expand our UK portfolio.

Suggested Articles

Hyatt Hotels Corp. sold the 1,260-room Hyatt Regency Atlanta to an unnamed buyer but will stay on as operator.

The Peppers Airlie Beach resort in north Queensland is up for sale via an International expressions of interest campaign.

Ahead of the Mediterranean Resort & Hotel Real Estate Forum, Atrium Hotels' Athinagoras Konstantinidis discusses hotel opportunities and challenges.