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(London.CityRegions.com, May 18, 2013 ) London, UK -- TRI Hospitality Consulting conducted research and found that it is possible for the city to build a 130-bedroom hotel at the new railway station. With the forthcoming completion of the new V&A museum and the Dundee Waterfront development, TRI expects that there will be high demand for accommodations in the area. There are already three hotels scheduled to open over the next two years in Dundee. With more than 40 years of experience conducting feasibility studies, TRI is confident in their results. Building on the completed analysis of the Dundee hospitality sector, the firm believes there is a definite opportunity for a 130-bedroom hotel at the new station. Developers have proposed a £14 million railway concourse to include the station, a hotel and an office development. Elevated tourism Although, there has not yet been an operator who has signed on to run the station hotel. Because of the ongoing regeneration schemes in Dundee and its elevation as a tourist destination, the city will see an increase in demand for accommodations. The report by TRI stated that hotel accommodation in the area has remained stable over the last several years, but new accommodation is needed to heighten the city’s appeal as a destination for commercial businesses and leisure travelers. As a result of the riverside regeneration occurring in Dundee, TRI expects to see an increase in the city’s tourism sector. The Waterfront Development and the new V&A at Dundee will be the main draws for tourists. Estimates by TRI indicate that by 2015 the city will see in the first year roughly 500,000 visitors and eventually tapering down to 300,000 visitors each following year. TRI also noted in its report that any new hotel being built would need to price rooms below £100 because the two hotels that are already in development cater to the top end of the market. With that being said, TRI stated that a hotel will be able to do well with rooms priced around £65.32. The report also laid out projections for profits for a potential hotel, stating that it is possible to generate £2.8 million in total revenues and maintain a gross operating profit of around £1.5 million. The report ended with an endorsement of a 130-bedroom hotel at the new Dundee Rail Station Concourse. This conclusion was based on the current accommodation requirements in Dundee, their forecast of future supply and demand, and their market research. About RestUpHostel.co.uk
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Source: EmailWire.Com
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