Accessing Finance to grow the Accommodation Sector for 2013

Organisations looking to develop or expand accommodation in the lead up to the UK City of Culture 2013 are being urged to sign up for a special seminar which takes place on 29 November 2011 in the City.

Derry City Council and Ilex have organised the event to ensure that the sector can take advantage of opportunities associated with UK City of Culture and other key events.

The seminar will focus on accessing finance and funding to develop new accommodation or expand existing accommodation and will also be of interest to those at the early stages of developing proposals. This can include any type of accommodation, for example, hotel, B&B, guesthouse, self-catering, hostel, camping and caravan, residential rental and other non-conventional accommodation.

The event will include presentations from Derry City Council, Ilex, the Northern Ireland Tourist Board, Invest NI as well as consultants ASM Horwath and will be followed by facilitated discussion to explore issues in more detail and to agree next steps. The event will also include representation from the banking/financial sector.

The event will take place from 10.30am to 12.30pm at the Custom House Restaurant on Harbour Square. It is free to attend but registration is essential. To book a place please contact Rose McGrellis on 028 71365151 or by email on rose.mcgrellis@derrycity.gov.uk

Oonagh McGillion, Director of Development at Derry City Council said:

"Council has completed an audit of the current supply of accommodation as well as proposed developments and anticipated demand. One of the key challenges identified through this research is the ability to secure finance to deliver on projects within the accommodation sector. This relates to projects at the idea stage as well as those that have planning permission and are ready to go.

This event will be invaluable in bringing together the key players and unlocking the current challenges to growing the accommodation sector in time to fully maximise the significant tourism opportunities arising from UK City of Culture and other key events such as Clipper Round the World Yacht Race in 2012".