A Brighton boutique hotel has been sold for £795,000 as Brighton continues to benefit from the staycation trend.
Motel Schmotel in Russell Square has just been sold to another local hotel operator after being on the market for a month – which estate agents Fleurets says is evidence there is buoyant demand for hotels in the city.
But chair of Brighton and Hove Hoteliers Association Jeremy Ogden said while Brighton was indeed one of the most popular tourist locations, the fierce competition meant hoteliers were far from raking it in – and that he had seen no signs of a boom in hotel sales.
Fleurets agent Will Thomas said: “The sale is an example of Brighton’s buoyant hotel market which offers a hugely diverse choice in accommodation.
“This is in part due to the proportionally high number of independently owned hotels offering exciting and individual alternatives from chain operators.”
Mr Ogden said: “Brighton is always a good place because it attracts Londoners and it’s a fun city. But I don’t think it’s necessarily means that staycations are leading a property boom.
“The property market is fine – it has got a huge diverse choice in accommodation, from the big chains to small guesthouses, and we had a good year last year.
“But the competition is pretty rife and I’m always loathe to encourage the council to promote more changes of use because frankly, I think there’s too much capacity.
“Room prices have been static for about five years, but in the meantime wages, utilities etc go up, and we’re facing competition from party houses and Air B&B.”