Liverpool’s event scene set to thrive thanks to £2.2M funding boost from city's Accommodation BID

Liverpool’s thriving events scene is set to grow even stronger, thanks to a £2.2 million investment from the city’s Accommodation BID (ABID).

This funding, from Liverpool’s Accommodation BID, aims to attract major events such as conferences, exhibitions, festivals, and health forums, drawing more visitors to the city and driving overnight hotel stays.

To date 36 events will be supported up to 2027, with 9 already delivered.

Measuring twelve events across its first 18 months, Liverpool’s Accommodation BID has helped to bring £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.

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 hotels and serviced accommodation 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.

In total, the ABID’s board has approved £2.2m into events. 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. The Weekend Average RevPar was slightly down at £99.93 compared with £102.43 the year before.

Bill Addy, CEO of Liverpool BID Company, 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.

“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.”