With its new Hotel Indigo at The Forum nearing completion, Gloucester City Council (GCC) wished to understand if there was demand for additional premium hotels in Gloucester city centre and if that would result in a detrimental impact to the performance of the Indigo along with the potential economic impact of additional premium hotels in the city and how those developments might be delivered.
A key part of the city’s Kings Quarter regeneration project, The Forum is a major mixed-use development comprising residential, commercial, hospitality and retail & leisure. Over recent years, the city of Gloucester has been transformed by ambitious regeneration projects resulting in economic growth and urban transformation, particularly around Gloucester Docks.
We identified strong demand for additional upscale and above hotels in Gloucester, with the optimum location in Gloucester Docks benefitting from the very pleasant environment with numerous retail and food & beverage options and a short walk from all the city centre demand drivers.
Other demand drivers include a growing commercial and tech sector in the city along with its events, heritage and cultural attractions and ease of access by road and rail.
AR Hospitality Consulting was delighted to prepare a Demand Study for GCC which included preparation of a high-level assessment of the economic impact of new premium hotels in the city and commentary on how new hotels might be delivered.
We also provided an overview of economic and tourism trends, analysis of the current market and a market occupancy model, bringing together elements of research to project market-wide occupancy over the next ten years and capacity for further premium hotels.
Photo by Elizabeth Jamieson on Unsplash