Liverpool’s Accommodation BID has helped to bring £47m of economic impact into the city, supporting 12 large events over 12 months in the city. Over 20,425 delegates have been welcomed to the city with 63,600 bed nights.
Established by the city’s hotel and serviced accommodation sector, The Accommodation BID (ABID) was introduced to support bringing major events and conferences to the city, helping to increase the viability of the sector, support the hospitality industry and the city’s events calendar. A levy is paid by those with a rateable value above £45k. That levy goes towards attracting events and conferences to the city.
In the original proposal, it was predicted that the ABID would help create jobs and increase the economic performance of the city.
Over 12 months (from September 2023 to September 2024) it is estimated it will invest £700k in support via a subvention fund. Alongside having an economic impact for the city, the subvention fund support helps to increase stays in city hotels, particularly during quiet months when the tourist trade is not as busy.
Over the past year, the city’s occupancy rate has been 77.4%, with a 12 month ADR of £94.79 and a RevPar of £73.39. Another 860 additional rooms are expected to be opened over the next two years, an increase of around 12% and the highest growth since 2018.
The Accommodation BID will also launch Conferences, Sports and Cultural Events Fund, supporting the hosting of major events in the city. Helping to attract more overnight stays, drive footfall to the city centre, and showcase the city as a thriving centre, the new fund will provide funding on a sliding scale based on economic value to the city. For example, an event aiming to bring £1.1m to the city could apply for £25,000. Open to a range of different organisations, including local authorities, charities and commercial organisations, the first round of funding is open for application until 14th June.
Bill Addy is the CEO of Liverpool BID Company:
“The Accommodation BID came from a desire from within the city’s hoteliers and accommodation providers to take the visitor economy into their own hands. Working with the private sector, it offers the chance to make dynamic changes. Liverpool BID Company already provides those core services of street cleaning and animation, and so it means the ABID is able to focus its attention on pulling in events and conferences. These help to boost bed nights in the city and help the industry to grow”.
“Over the past decade we have seen the value of bringing major events to the city. The question is always, how to fund it? We have shown that the private sector is eager to help, because the argument over the economic value to the city has been asked and answered. The Accommodation BID is a bold and ambitious model that helps to boost the city’s economy by having a shared vision and drive.”
Find out more about the Liverpool BID Conferences, Sports and Cultural Events Fund