Research has found that guests staying at Premier Inn Chesterfield Town Centre, which is located in the former Co-op department store on Elder Way, are each spending, on average, £79 a night in the local area.
Whitbread PLC, the UK’s largest hospitality business and owner of Premier Inn, carried out the research. It found that Premier Inn guests typically spend £137 externally on items such as entertainment, with £79/night (56% of the total spending) being spent in the local area within which their chosen Premier Inn is located.
The comprehensive study by Whitbread involved surveying more than 12,600 Premier Inn guests staying in 357 Premier Inn hotels across the UK within 24-hours of check-out.
Alex Flach, UK Development Director in the UK & Ireland for Whitbread, said: “From shopping to sight-seeing, local dining to local drinks, this analysis shows the positive economic impact of Premier Inn hotels on local economies across nations and regions of the UK.
“As a business, we are committed to using our scale and national footprint to make a positive difference to people’s lives and to create long-term value. We are delighted that, for the first time, we can demonstrate clear evidence of the economic impact our hotels have on the communities they serve.”
The Premier Inn Chesterfield Town Centre, which is located on the upper two floors of the former Co-op department store on Elder Way, has proved popular since opening, with nearly 90% of guests rating it as either excellent or very good on TripAdvisor.
The 92-bedroom hotel was opened in 2019 following the transformation of the upper floors of the iconic building by regeneration specialist Jomast. The hotel also benefits from the proximity of a secure car park, Saltergate Multi-Storey, which opened the same year.
Jomast subsequently went on to transform the ground floor of the building into eight large street level units with contemporary glazed frontages.
There are currently a number of leasing opportunities available at the 21,761 sq ft scheme, from smaller E Class and Sui Generis Bar units of 1,420 sq ft upwards to larger units of up to 4,704 sq ft.
Joint agents for Elder Way, WSB Property Consultants and FHP are now marketing the units at food, drink, entertainment, retail and clinical operators.
Mark Hill, Commercial Property Director of Jomast said: “We have worked with Premier Inn to bring the hotel chain to a number of Jomast’s developments throughout the country. We recognise that having Premier Inn as an anchor tenant is very attractive to tenants of our schemes, and Whitbread’s research into guest spend in the local area supports this.”
Food and drink and entertainment were the top categories of spending for Premier Inn guests followed by non-food shopping and travel.
Whitbread calculates that spending by its guests on food, drinks, entertainment, shopping, and local transportation could be contributing £1.6 billion annually to those catchments that have a Premier Inn. This is equivalent to an average annual benefit of £3.3 million in visitor expenditure for local businesses in each Premier Inn hotel location.
Chesterfield’s businesses are set to benefit from further hotel investment in the town after the Holywell Hotel received the green light from planning officers recently.
Located next to the town’s well-known Holywell Cross or ‘Donut’ roundabout in the heart of Chesterfield, developer of Holywell Hotel, Voeberg, is set to undertake a £1 million refurbishment of the Grade II listed building.
The building will be converted into one two-bedroom and eight one-bedroom apartments for use as short-stay accommodation.
Emily Smith, Property Investor and Mentor at Voeberg commented on the ‘imminent’ Holywell Hotel saying: “It’ll complement other hospitality and retail businesses’ offerings in the town and we’re looking forward to partnering with many local businesses through the development and then the running of the hotel.”
Councillor Kate Sarvent, Chesterfield Borough Council’s cabinet member for town centres and visitor economy, said: “We are aiming to attract more tourists and visitors over the next four years and there are a number of new hotel developments planned to support this growth. It is useful to understand how guests at hotels support our wider town centre economy and provide a boost for local businesses.”
If you’re a business looking to benefit from the opportunities on offer at Elder Way, contact us here .