Since the Liverpool Accommodation BID was established in early 2023 it has spent £2.2m attracting major conference and events to the city generating an estimated £77m return. Tony McDonough reports
Liverpool BID company says it has spent £2.2m supporting events in the city since early 2023.
In January 2023 the Liverpool Accommodation BID (ABID) was established. Representing the city’s hotels and accommodation providers it was the third BID adding to the Retail & Leisure BID and Culture & Commerce BID.
This is funded by the hotels and accommodation providers. All those with a rateable value above £45,000 within the BID zone pay a levy.
Shortly after, and with backing from Liverpool City Region Combined Authority, the ABID set up a so-called subvention fund. This is a pot of money used to attract major conferences and events to Liverpool by offering grants towards the cost.
Depending on the size of the event the grants can be worth tens of thousands of pounds. To date, £2.2m has been invested into 36 events up to 2027, with nine already delivered.
Measuring 12 events across its first 18 months, Liverpool’s ABID has helped to bring an estimated £77m of economic impact into the city. Four of the major events brought to the city generated over 90% occupancy for hotels within the ABID.
Alongside having an economic impact for the city, the subvention fund support helps to increase revenue for hotels, particularly during quiet months when the tourist trade is not as busy.
Between January and July 2024, 982,708 rooms sold, an increase of 5.2% on the year before.The average room rate was £92.35 and average RevPar £69.29, both increasing on the year before. Weekend average RevPar was slightly down at £99.93 compared with £102.43 the year before.
Liverpool BID Company chief executive, Bill Day, said: “What we are seeing with the Accommodation BID is a targeted strategy to convert events and conferences into hotel stays, supporting this foundation of the visitor economy.
“While a high number of visitors for events might be good for footfall, we know that there is a greater spend within the local economy when visitors stay overnight.
“Business conferences mean delegates stay in the city for longer and we see their investment converted into our hospitality sector, as well as the hotel industry.
“We are seeing the real positivity of a private and public partnership; the investment from the ABID has maximised the leverage of match funding from the Combined Authority.
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A key ingredient we need to truly enhance this offer is greater attention to inward investment, attracting major businesses and sectors who will have their head offices in Liverpool and will attract conferences and forums from their own industry to the city.
“This will see the city have a self-generating pipeline of influence and investment, with a business economy that works hand in hand with a visitor economy.”