3 Reasons Why Manchester Is So Popular With Hotel Investors
Manchester has always been a major city of UK and was her first industrialized city. Sadly,the city started losing its former glory in the first half of the 19th century. However, the city bounced back with the major facelift done while hosting the XVII Commonwealth Games in 2002. Today, the city is the second global city of UK (after London) and 5th best sports city in the world! So, if you are still wondering on why you should be investing in the booming hotel industry of the city and which is the best place to invest in a hotel in Manchester, here are 3 pointers:
·Manchester is a place for young people who come here to study in the University of Manchester or to work in one of the many foreign owned companies and industries. Hence, hotel rooms are always in demand especially those that have self-catering features for a longer stay. Such rental properties in boroughs around the city like Salford or Tameside are one of the best for investment purposes. These places are very near to upcoming industries and well connected to city centre (Salford is about 5 minutes away). So, these two locations are one of the many options to your question, which is the best place to invest in a hotel in Manchester.
As said before, this city is the 5th best sports city in the world, and people throng to the city when one of the two premier clubs are playing. Any match featuring Manchester United or Manchester City means nearly full room occupancy in the various hotels and rented properties around the city. The hotel industry here offers very good rate of return for investors who can invest in buying hotel rooms to let them during such rush. This is the best deal for any investor because they don’t have to worry about renting the property, cleaning or maintaining it as the hotels look after those areas. All the investors need to do is buy the room and collect the rent! Now of course how much rent you can get will highly depend on where the hotel is located; which is why make sure you have a thorough answer to your question of which the best place is to invest in a hotel in Manchester. The answer is of course to go for hotels that are located nearby to the two stadiums of the football clubs; City of Manchester Stadium and Old Trafford, which is the largest football ground in the UK! And you need to hurry with your decision to invest, because most of the rooms in prominent hotels like Ibis Styles or Holiday Inn are already purchased by investors who have seen a steady increase in the room rent since 2016!
Manchester city is also becoming a hub for entertainment industry. The city is a must stop location for any entertainer and singer on a tour. Naturally, fans from around the country camp here in the city during such events. Then there are the many festivals held all year through that attracts people and artists from all over the world. Notable ones among them, apart from the big ones held during summer, are Manchester Folk Festival, Caribbean Carnival of Manchester and such quirky ones like Grimmfest (now in their 9th year) as well as Manchester Food and Drink festival. Such events held all year through means hotel rooms are always in demand; the nearer to the venue, the better is the rent return! While other places might have a lean season, Manchester hotel industry rarely has one. Not even unfortunate incidents like the Manchester Arena bombing has deterred people from visiting the city and this tragic event saw no impact on the room occupancy rate.
So now that you know the reasons why Manchester is the place for your hotel investment, make sure you do a thorough research on which is the best place to invest in a hotel in Manchester and invest today!