Liverpool will become the first UK city to launch a city-wide Accommodation BID following the success of its Eurovision campaign.
A ballot to approve the business improvement district attracted overwhelming support from the hotel and serviced accommodation sector, with 84% in favour.
The BID will have £4.3m investment, aimed at providing security both for the industry and for visitors, and attracting more major events to the city. It will also set up a subvention fund, focused on attracting small, medium and large conferences to the city, that convert into hotel stays.
The levy will be paid by businesses with a rateable value over £45,000.
The aim is to attract more events, which will convert into more visitors, who will stay longer and spend more.
Before Covid, Liverpool had 37m day and overnight tourist visits, with the visitor economy worth £3.35bn.
The Liverpool BID Company has also said it will seek a new term for the Retail & Leisure BID in 2023.
Liverpool BID Company chief executive Bill Addy said: “This yes vote is a sign of confidence and determination for BID to continue to serve the city. In 2023, we will be going back to our Retail & Leisure levy payers to seek a new ballot, securing for five years. We will be increasing the baseline for those to pay a levy to £45,000.
We are also looking to increase the size of the BID area to incorporate more of the city centre. The pressure on the public purse is acute, and a larger BID area means a greater level of investment into the whole city centre, vital if we are to attract investment, support the visitor economy and maintain the public realm.”
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