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Summer International Festival for Business in Liverpool proved a hit

The business festival which was held in the city over the summer was according to Laura and other members of staff at Car Hire Liverpool Airport a great success, especially after the figures were revealed.

The six week International Festival for Business (IFB) in Liverpool this summer has helped the city’s hotels to boost occupancy levels in the first eight months of this year.

Liverpool has seen room rates (ADR) edge up each month of 2014 with an increase of 25% in July. Strong occupancies combined with room rate growth have translated into double digit revenue per available room (RevPAR) growth of 12.6% over the first eight months.

RevPAR is a key metric for the hotel sector and Liverpool has seen one of the best performances around the UK. The IFB, cultural events programme and the Open Golf Championship are reported to be boosting tourism and hoteliers’ fortunes. The city experienced the second highest UK Rev PAR growth in July, up by almost 40% and driven by a 25% rates leap. Only Glasgow saw a larger increase as it benefited from the Commonwealth Games.

Martin Heath, PwC’s senior partner at PwC in Liverpool, said “The IFB and WWI commemorative Giants plus the sunny summer weather have all benefited the city’s hotels sector in the year to August, with Liverpool experiencing significantly higher occupancy levels than last year. We expect further growth in 2015 as the economy continues to recover across the region, as well as from high profile football matches, music concerts and the likely over spill from demand to attend Rugby World Cup matches in Manchester.”

At the end of June there were around 23,000 rooms in the UK development pipeline expected to open in 2014 and 2015 with around 600 of these new rooms expected to open in Liverpool, including a new Doubletree by Hilton, new lifestyle brand Moxy from Marriott, a new  Aloft and the  Pullman Liverpool Arena.