Park Inn hotels come home to Wembley
Global hotel brand Park Inn has been selected as the operator for the new 4* hotel located in Wembley, one of London’s fastest growing leisure and sporting destinations.
Voted the World’s Leading Destination attracting nearly 25 million visitors last year, London presents one of the most robust and lucrative hotel markets today. Outperforming most other European cities including Paris, Madrid, Rome, Berlin and Amsterdam, the Capital’s hotel market is going from “strength to strength” according to TRI Hospitality Consulting with double-digit revenue per available room (revPAR) growth in 2010 according to latest figures from Deloitte.
With 24 hotels already across the UK and 3 in London, Park Inn has identified the significant demand for quality accommodation in London and is therefore partnering on this high yielding new hotel investment opportunity – Park Inn Wembley.
Wembley has undergone significant redevelopment in recent years, not least fuelled by the construction of the new Wembley National Stadium, and has been singled out by The London Tourist Board and London First as one of the three most promising locations for hotel development in the Capital.
Over 1.75 million people visit the iconic Wembley Stadium alone each year attending prestigious events including the FA Cup Final, Carling Cup Final, rugby and American Football matches, motor-racing, high profile music concerts and cultural events. Visitor numbers are set to rise further in the next two years as the biggest music concert in Wembley’s history, Take That Live, will take place this summer with over 1 million tickets sold as well as the UEFA Champions League Final, Euro 2012 qualifiers and the badminton & gymnastics events of the London 2012 Olympic Games.
As Steven Worboys, MD of Experience International who are marketing the Park Inn Wembley, comments,
“Wembley is not only a leading destination for leisure and sporting events but also a burgeoning business centre with a clear demand for quality hotel accommodation. Wembley already offers some 970 hotel rooms from established brands such as Ibis and Premier Inn with a further 620 rooms under construction yet this stock is still not adequate to meet demand for quality accommodation.”
Meeting this demand, the same developer as the highly successful Holiday Inn West India Dock Road in Canary Wharf has selected Park Inn as the operator offering a truly ‘hands off’ investment delivering double-digit net returns.
Just released to the market, hotel rooms in the Park Inn Wembley, located on Olympic Way and just 2 minutes from Wembley Park station, are available 28% below RICS commercial valuation from just £140,000. Investors can expect at least 10.2% net yields in year 1 rising to 11.5% by year 5 and non-status finance is available as well as VAT paid giving a saving of £28,000.
For more information about investing in the new Park Inn Wembley contact the experts at Experience International on +44 (0) 207 321 5858 or visit www.experience-international.com.