As the Tour De Yorkshire returns, David Cash, Senior Business Agent – Licensed at specialist business property adviser Christie & Co, discusses the current tourism market in the region.
With British staycations on the rise and budget conscious Brits looking to discover the best holiday destinations close to home, Yorkshire has been growing in popularity and is set to become a tourist favourite.
This week the region is hosting, for the fourth year, the world class cycling race, the Tour De Yorkshire, the British offshoot of the famous Tour De France, on the 3rd-6th May. The campaign to bring The Grand Depart to Yorkshire in 2014 was spearheaded by Sir Gary Verity, who is now Chief Executive of Welcome to Yorkshire. Still heavily involved in the Tour De Yorkshire, Sir Gary is a strong advocate of the growth of tourism in the region and we at Christie & Co are pleased to host him as guest speaker at our Leeds Business Outlook in January 2019.
As the racing event attracts a large number of both competitors and spectators, many towns and cities across Yorkshire are prepared for the surge in hotel, restaurant and pub custom that it brings. Hotel and leisure operators in the region are well-equipped to cope with a growing number of visitors to the area and as demand increases, so too does the value of these businesses. In March it was reported by Welcome to Yorkshire that tourism is now worth £8 billion to Yorkshire’s economy, a 14% increase on the last review in 2011.
With four stages to the Tour De Yorkshire, leading the cyclists through the stunning Yorkshire landscape and drawing the crowds to the start and finish posts of each stage, located in different towns and cities across the county including Doncaster, Barnsley, Leeds, Halifax, and Ilkley. These locations and the surrounding areas are ideally placed, not just to cater for those following and partaking in the race but also to establish a solid reputation among those repeat visitors.
One such prime venue, just outside of Ilkley, is Grassington Lodge, an award winning contemporary guesthouse which has come to the market with Christie & Co at a competitive price and offers easy access to tourist attractions the Yorkshire Dales National Park and Nidderdale Area of Outstanding Beauty.
Outside of the attention that the Tour De Yorkshire brings, hotels such as the Grassington Lodge enjoy year-round, growing occupancy as visitors are attracted to the scenic natural environment, perfect for hiking, sightseeing, and various outdoors activities. Such is the draw of the area, the Discover England Fund, led by Visit England, has pledged £1 million to endorse Yorkshire as a top cycling holiday destination in Europe.
Those looking to break in to the Yorkshire hotel market should look to these areas as they grow in both popularity and profitability, with now the best time to snap up a thriving business in one of the UK’s key tourism hotspots.