A new report by property consultant JLL and London & Partners indicates that London's budget hotel sector has seen significant growth since 2012.
More than half of the 18,000 hotel rooms that have opened in London since 2012 have been in the budget sector. In addition, 33 percent of the 7,000 rooms due for completion this year will also be in the same sector. Low-cost hotels now make up 20 percent of the total bedroom stock across the city.
The two main development hotspots are:
The "Knowledge Corridor". This stretches from Bloomsbury to Paddington, taking in Fitzrovia and north of Oxford Street. Hotel activity is increasing as these areas. The U.S.-based hotel operator Standard International will be opening its first UK hotel in 2018 in the former Camden Town Hall.
Shoreditch is the other hotspot for hotel development. New hotels include Z Hotels and Nobu Hotel Shoreditch. During 2016, a further 800 bedrooms are expected to come on stream in this district of London.
Read the full report: http://www.hospitalitynet.org/news/global/154000320/4076105.html