Super-prime real estate developer Sameer Gehlaut has today called for London businesses to prepare for the expected return of high-spend, international tourists in 2023 and drive economic growth.
The intervention comes amid reports that 2023 will be a record-breaking year in which tourists are expected to spend £29.5bn in the UK, according to Visit Britain. With the tourism sector continuing to bounce back strongly in the wake of the pandemic, many businesses in the heart of the capital will look to prosper, with London attracting the greatest proportions of international visitors annually.
After many months of stagnation in the UK economy, with tourists forecast to spend more than ever before, prospects for future growth appear promising. But businesses across hospitality, retail, and accommodation must ensure they’re fully prepared to absorb this influx and cash in on this lucrative market.
Gehlaut believes more luxury, flexible-stay accommodation is one of the keys for unlocking growth for local business, and he says this type of accommodation will help entice high-spend, international visitors into the city.
Sameer Gehlaut said: “London will always be a favourite location for wealthy visitors, and the expected growth of inbound travel in 2023 is great news for the city’s economy. But we can do more to entice high-spend visitors to stay here for long periods of time by providing more flexible-stay private accommodation combined with 5-star hotel amenities.
“There is massive gap in London’s real estate market – travellers wanting to embed themselves in London for long periods of time simply can’t find the 5-star, long-stay accommodation they need. This is a major barrier to economic growth, denying London the capital these travellers can inject into the city.”
Through his super-prime property developer Clivedale, Gehlaut recently launched Amberley – a real estate project that combines luxury apartments at some of London’s finest addresses with 5-star hotel services. Amberley uniquely offers the best-in-class accommodation with stays, to cater for the needs of high-spend visitors, who wish to stay in London for longer periods of time.
The Mayfair Park Residences were the first Amberley apartments to launch and are managed by the internationally renowned Dorchester Collection. The apartments offer a choice of 1-4-bedroom apartments, as well as a Mayfair townhouse. Amberley is a fast-growing project with more locations in the pipeline, including apartments at Clivedale’s Mandarin Oriental Mayfair, based on Hanover Square, which will open in Spring 2023.
Gehlaut continued: “The UK has been at the bottom of the pile for economic growth since the pandemic but we’re seeing promising signs for 2023. Providing the perfect accommodation for high-spend tourists will help London capitalise on the increase in travel and return the UK’s economy to strong long-term growth. The Amberley project aims to pull down a major barrier to growth in London’s luxury tourist industry. Other developers need to step-up and help entice further luxury tourists into London.”
Gehlaut has two decades of experience in real estate and has a track record of strengthening London’s property market by investing in high-end commercial and residential property. He founded Clivedale in 2012, which has an emphasis on unparalleled locations and best-in-class amenities. It has delivered many of London’s most iconic, well-known developments including The Mansion, 73-77 Brook Street, and Mayfair Park Residences. Gehlaut is also behind the development of 20 Carlton House Terrace, now inhabited by energy company BP, in one of the biggest deals of its kind in the last ten years. He has also invested in other sectors, becoming one of the earliest investors in OakNorth Bank. In total, he has funnelled an estimated £750 million into the UK economy over the past decade.