London has officially taken the top spot for the most attractive city by investors and is expected to have a 'hotel boom' in 2024.
In a survey by Deloitte, senior hospitality leaders, owners, lenders, developers, and investors lifted the lid on industry trend predictions for the next 12 months.
In 2022, the UK capital came third after Amsterdam and Lisbon.
But now, London has jumped to first place with its alluring charm attracting investors. The new results knocked Amsterdam from the top spot for the first time since 2017.
"It is reassuring to see London climb back up the rankings, and it is perhaps not surprising to see new hotels opening given the UK’s capital’s centre for tourism and business, as well has being a gateway city for international travel," Andreas Scriven, head of hospitality and leisure at Deloitte UK said.
"For London to continue to remain attractive to hotel investors, the industry will need to address concerns around the ability to drive pricing in light of inflationary pressures.”
The hotel chain YOTEL, famed for its innovative design and time-saving technology, is one of the first to act on 2024's predicted surge, by debuting YOTELPAD in the capital.
Created by YO! Sushi founder Simon Woodroffe OBE and YOTEL's first CEO Gerard Greene, YOTEL currently have locations across the world including New York, Manchester, Edinburgh, Amsterdam – and two in London (London City and Shoreditch).
In May 2024, YOTELPAD will drop in Stratford with 62 multi-functional live, work and sleep spaces that prioritise style and smart living with fully equipped kitchenettes.
The new addition will continue to have the signature Mission Control check-in areas, a Grab & Go snack station, as well as a food & beverage and retail space.