PPHE Hotel Group is confident about the long term appeal of the European hospitality sector as it prepares for the development of the Park Plaza London Park Royal, Park Plaza Riverbank London and Park Plaza London Waterloo, which will take PPHE’s overall room count in London to over 3,100 rooms.
It is also in the planning stages of expanding the Park Plaza Sherlock Holmes London.
The post-Brexit weakening of sterling presents potential opportunities with increased appeal for visitors from the US and Asia, a view shared in a survey of international investors’ attitude to UK property undertaken by JLL.
This found that 72% of overseas investors see the fall in sterling as an opportunity to invest in the UK, 27% as an immediate opportunity, and 45% agreeing but planning to wait. 55% expected that occupier demand to decrease in the short term, but bounce back.