According to international real estate advisor Savills, UK hotel transactions totalled £3bn in 2022, which is 27.5% lower than 2021, as a result of slowing activity driven by macroeconomic conditions in the second half of the year. Rob Stapleton, director, head of UK Hotel Capital Markets at Savills, comments: “2022 can be summarised as a […]
Applications are open for a new, high-profile business leader to champion and support the hospitality sector in the West Midlands. The night time economy advisor role will act as a focal point for the region’s pubs, clubs and restaurants as well other sub-sectors operating on a 24-hour basis such as health & social care, logistics […]
Despite occupancy rates, room rates, revenues and gross operating profits (GOP) of UK hotels declining in November, the UK hotel industry is showing some signs of resilience, according to the RSM Hotels Tracker. The data, compiled and produced by Hotstats and analysed by RSM UK, highlights the cyclical nature of the industry when occupancy and […]
The Cumberland Building Society has announced today that its new lending to the hospitality industry increased substantially during 2022. Throughout 2022 the Carlisle-based building society increased its advances by 277%, delivering £99.62m, when compared to the £26.4m delivered in 2021. Coinciding with the increase in new lending, The Cumberland’s average loan advance increased also, rising […]
Hospitality and tourism businesses saw the fastest operating cost rises of any UK sector in November, as firms faced sharp increases in the price of energy, food, and drink, according to the latest Lloyds Bank UK Sector Tracker. The sector – which includes pubs, hotels and restaurants – faced higher inflationary pressures than any of […]
Occupancy rates of London hotels increased again in October, suggesting weak consumer confidence hasn’t yet hit the sector in the UK’s capital, according to the RSM Hotels Tracker. The data, compiled and produced by Hotstats and analysed by RSM UK shows that occupancy rates in London were up from 73.9% in September to 76.3% in […]
International tourism is on track to reach 65% of pre-pandemic levels by the end of 2022 as the sector continues to bounce back from the pandemic. An estimated 700 million tourists travelled internationally between January and September, more than double (+133%) the number recorded for the same period in 2021. This equates to 63% of […]
Occupancy rates, daily rates and gross operating profits of UK hotels benefitted from an unexpected and unseasonal spike in demand in September. The increase was in part due to large numbers of people descending on cities like London and Edinburgh to pay their respects following Her Majesty the Queen’s death and up to her state […]
Wylie & Bisset, accountants and business advisers, has advised hospitality sector operators to plan and project to survive or exit a perfect storm of increasing energy bills just as winter approaches, higher supply and staffing costs, and a fall-off in consumer spending, squeezed by inflation. While Prime Minister Liz Truss has announced that businesses will […]
UK hotels enjoyed higher occupancy rates, daily rates and gross operating profits in July, but there are fears this record-breaking summer won’t be enough to insulate the sector from a difficult end to the year, according to the RSM Hotels Tracker. The data, compiled and produced by Hotstats and analysed by RSM UK shows that […]
