Liverpool has submitted a proposal to create a dedicated accommodation business improvement district for its hotel and serviced apartments industry.
Businesses in the proposed BID area will be asked to vote on the proposal this autumn. If successful, it would be the first accommodation BID in the UK and, with more than 80 hotels and serviced apartments in the proposed area, it could see an investment of £4.3m over five years, with an average GVA of £15m a year.
The proposal is a joint initiative between Liverpool Hospitality, Liverpool BID Company and the Liverpool City Region Growth Company’s Growth Platform. Its purpose is to reduce the sector’s reliance on public sector investment. The move follows the ongoing increases in operating costs and the decline in revenue per available room since 2019.
Bill Addy, chief executive of Liverpool BID Company, which would manage the accommodation BID, said: “Liverpool’s visitor economy is a towering strength but, without investment, its growth could make it a victim of its own success. With the public purse shrinking, there simply isn’t the level of public sector investment to support the industry and provide what it needs; specifically, that targeted investment of a subvention fund to attract major sporting events, business conferences and other programmes that draw visitors to the city.
“It is time for business to pull together to help the city continue to be an international draw.”
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