City is in need of ‘posh push’ for prosperity
TOP CITY RETAILER CALLS FOR STRONG MOVE TO LAUNCH HOSPITALITY SECTOR INTO GLOBAL LEAGUE
A TOP city retailer has called for a posh push in the property sector to ensure Manchester makes the most of its international connections.
Jane Sharrocks, general manager at the city’s £100m-a-year turnover branch of Selfridges, says Manchester needs a Michelinstarred restaurant and a superdeluxe hotel if it is to make the most of the rapidly growing international tourism.
A posh push could attract Middle Eastern royals meaning a massive boost to leisure and retail spending.
The calls come after a CityCo seminar on the way globalisation is changing the city’s landscape and fueling its economic growth.
Speaking exclusively to the M.E.N., Sharrocks – who is also chair of the ManchesterBID improvement district organisation – said the city mustn’t miss out on rapidly growing international spending.
“We’ve seen a sharp rise in international retail spending in the city in the last four or five years driven by international students, and their parents, much of it coming from China and the Middle East,” Sharrocks said.
“In the last year the devaluation of the pound has helped boost spending. In Selfridges the proportion of international spend has risen rapidly from 10-13 per cent to around 26 per cent this year.
“At first London was the hub for international visitors but they are now spreading out to Manchester.”
The average international customer at the 145,000 sq ft Selfridges store spends around £1,500 per transaction in Selfridges, compared to £250 for a domestic customer. “To capture that trade we need good service and good products, and hotel accommodation is key. Hotel bed provision is massively growing but we are still missing the real high-end five star hotel which is an untapped market for Manchester. “Manchester does not have a Dorchester Hotel, and that is the kind of hotel that attracts the Middle Eastern royals and they are not coming to Manchester yet.” Vaughan Allen, chief executive of CityCo, said: “As the number of international visitors to the city continues to increase, we’ll see the breadth and depth of offer expand alongside. The quality of restaurants in the city has never been higher.”
We are still missing the real high-end five star hotel Jane Sharrocks, general manager, Selfridges