The City of London has seen a surge in the delivery of retail floorspace over the past decade, matched by a threefold rise in its hotel offering according to figures touted by its policy chief.

Catherine McGuinness, who chairs the corporation’s Policy and Resources Committee, told a property industry event that the Square Mile was developing and diversifying its offer at a “fast pace”.

McGuinness said that 4,000 hotel bedrooms were created over the 10 years to 2018-19, which brought the City’s current stock to its current level of 6,125.

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