Birmingham-based asset management company, Switch Hospitality, has signalled a strong return for its West Midlands hotel portfolio post Covid-19, with both the Park Regis in Birmingham and the Holiday Inn Express Birmingham South exceeding 2019 sales figures.
At Park Regis, occupancy levels have fully recovered since the Covid-19 pandemic, with a 5% increase in visitors from January to November 2022, compared to the same period in 2019, and against a backdrop of a 7.3% decline in occupancy across 2022 for Birmingham as a whole.
Christmas covers at Park Regis have increased by 48% compared to 2019, showing strong demand from both corporate guests and visitors looking to celebrate the festive season with family and friends.
The increased demand for corporate bookings and conferences has enabled Switch Hospitality to generate greater value for its hotels, with the ADR (average day rate) for Park Regis growing by 16% in the period January to November 2022, compared to 2019, and Holiday Inn Express Birmingham South increasing by 22%.
Park Regis is expected to grow its total revenue for the financial year April 2022 –March 2023 by 41% compared to 2019.
John Angus, CEO at Switch Hospitality commented, “It’s been an exceptional year for our West Midlands hotels, and hugely encouraging to see the strength of demand from corporate bookings as well as our leisure visitors. Alongside our strong sales results, at Park Regis, we were also proud to play our part in the Birmingham 2022 Commonwealth Games by hosting an Athletes Village, and to be recognised by the industry and voted by customers as the Best UK Hotel for the second year running.
“At Switch, our commercial and financial teams work hand in hand and in partnership with our clients to ensure that we are maximising every aspect of our operations, and we continue to invest in both our people and our assets to deliver the very best experiences for our customers. We look forward to continuing this positive trend into 2023.”