05/12/2006 16:33:00
Extensive expansion plans have been announced this week, which will see up to £50million invested in YHA properties in England and Wales over the next three years.
The budget accommodation provider already has plans in place to improve facilities for guests by spending £20 million on upgrading its existing network to modern standards as well as opening new sites.
The move is part of a 10-year strategy announced in January and with external support, total investment could rise to £50 million across a growing portfolio of countryside, coastal and city destinations.
The intention is to grow a modern, sustainable and successful network and it continues today with the announcement of the largest single development project – the new YHA London Central.
This involves a £4.3 million conversion scheme at a West End office block, in Bolsover Street, Westminster, to produce a state-of-the-art 300-bed centre.
YHA Chief Executive Roger Clarke said: “Our strategy is all about providing great experiences for our guests with great accommodation in great locations and now we are ready to deliver on that promise.
“Starting work on YHA Central London is a great boost for YHA and it is first announcement of many; it heralds the start of a hectic and exciting time for us.
“Recently re-opened facilities in Boscastle in Cornwall and Keswick in the Lake District have been well-received by our guests, who have given resounding approval to what are clear benchmarks for YHA accommodation in the future.
“We will see more stunning examples open next year in the shape of our new £3million cliff-top facility in Whitby and YHA National Forest in the East Midlands, and there are plenty of equally exciting new projects planned for the future.”
Around £10million of YHA capital, with external support, is already committed to projects under way to expand and enhance the network at Whitby on the Yorkshire coast, Crowden in the Peak District, the National Forest and Ironbridge in Shropshire.
There are new YHA properties on the drawing board in many parts of the country, including Berwick-on-Tweed, Cardiff, Dover, Southease, near Lewes, in Sussex and Romsey, in Hampshire.
Individuals and organisations that run properties on a franchise agreement through YHA’s Enterprise scheme are also making investment in the YHA network.
Such new sites include: YHA’s first coastal activity centre on Anglesey, new bunkhouses at Llangattock in the Brecon Beacons, Portreath on the north Cornish coast and All Stretton, in Shropshire.
Big changes were promised in January after a comprehensive review of the entire network of around 220 YHA locations was undertaken.
This resulted in a decision by the charity’s trustees to dispose of 32 of the less popular, unprofitable or unsuitable sites.
The closures are to be phased over three years to September 2008 with a view to reducing long-term borrowings and releasing investment capital.
So far sales have been agreed on 18 YHA properties for a total of around £14 million. However, some of these properties such as YHA Earby will continue to be marketed and run as part of the YHA network by their new owners.
Part of this money will be used for investment in better new and existing locations with the balance provided through partnership working arrangements, match-funding or grants.