While the Welsh capital posted excellent performances with the organization of the Rugby World Cup, several transformations stirred up Cardiff's hotel industry -particularly the brand change observed at several properties.
With 4,487 rooms, Cardiff's hotel supply has a pyramid structure: economy properties constitute 43.8% of the supply, with no fewer than 27 hotels totaling 1,964 rooms. Midscale hotels represent just over one third fo the capacity of the city's hotel supply with 1,548 rooms. Finally, the seven upscale chain hotels present in Cardiff account for 975 rooms (21.7% of the supply).
The mid and upscale markets underwent some renovations last year. Located in the city center where it is one of the oldest hotels, the prestigious Parc Hotel joined the Jurys Inn chain last November; previously it was operated as a unit of the chain Thistle Hotels. With 140 rooms, the hotel Jurys Inn Cardiff City Centre is located near key attractions such as the Capitol Shopping Centre, the University and Cardiff Castle. The nearby Maldron Hotel Cardiff with 216 rooms, also changed its name to the Clayton Hotel Cardiff, an upscale brand with thirteen properties in Ireland and the United Kingdom (also operated by the Irish Dalata Hotels Group).
Hotel investors have good reasons for being interested in the Welsh destination: last year, Cardiff was one of the European cities with the highest occupancy. With an occupancy rate of 78.1% across the year 2015, the properties are ahead of properties at tourist destinations that are in the forefront such as Berlin, Barcelona, and Florence. In the city of the Red Dragons, rates have soared, with an increase in average daily rates by 14%, particularly due to the organization of the Rugby World Cup. The capital of Wales thus holds the record for growth in British cities in 2015: the RevPAR progressed by 14.4% from January to December. This argument ought to be enough to convince new hotel brands to lay down their cornerstones in the years to come.
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