Cambridge has been named in the top 10 UK 'hot spots' for hotel development for the first time.
The city has ranked at number six in the Colliers International’s latest UK Hotels Market Index, an analysis of 34 locations across the UK, ranked to determine the ‘hot spots’ for hotel development and acquisition across the country.
Cambridge has moved up 16 spaces since last year and its high position is mainly due to a good hotel performance indicator.
Chester was in the top spot followed by York and Oxford.
The report uses nine Key Performance Indicators (KPIs), including land site prices and room occupancy rates, to score each of the 34 locations a figure from one to five (one being the lowest and five being the highest).
The ratings are then consolidated into a single figure and ranked to show which markets are hot and which are not in terms of a desirable location for investors to acquire an existing hotel or develop a new one.
Marc Finney, head of hotels & resorts consulting at Colliers International, said: “The data in our second report reveals the ever-changing nature of the UK hotels market.
"Cities such as Cambridge have really upped their game in the last year to make it into the top 10 despite failing to score in this category last year.
"Of course, this is a general market index and site specific factors will lead to significant variances but the data demonstrates that London is not the only city that investors should be watching and offers a credible indication to influence their decision making process.”
Among the city's newest hotels is The Tamburlaine which is set to open in the vibrant, new CB1 development at the station this spring.
Named after a play by Corpus Christi College fellow, Christopher Marlowe, the 155-room hotel will be the first UK opening from Dublin-based O’Callaghan Hotel Group.
It comes as the new Ibis, a 231-room hotel opened in Station Square last year in the same development.
Top Ten UK Hot Spots for Hotel Investment and Development:
Ranking City
1 Chester
2 York
3 Oxford
4 Bristol
5 Edinburgh
6 Cambridge
7 Liverpool
8 Manchester
9 Leeds
10 Birmingham
