Consumers are ‘trading up’ in their choice of hotel as the cost-of-living pressure eases, causing demand for budget hotels to dwindle, and luxury and mid market seeing a boost, according to the RSM Hotels Tracker: Focus on Asset Classes. The data, which is compiled and produced by Hotstats and analysed by RSM UK, shows occupancy […]
UK hotel investment transactions reached an estimated £626m in Q3 2024, according to Savills, 54% up on Q3 2023 figures. To put these numbers into context, the current year to date total stands at £3.82bn, surpassing the total 2023 volume by £1.6bn. Forecasts predict year-end volumes to reach £5bn, bringing activity back in line with […]
The UK hotel industry enjoyed a good end to the summer with occupancy and average daily room rates up when compared to August last year, according to the RSM Hotels Tracker. The data, which is compiled and produced by Hotstats and analysed by RSM UK, shows occupancy of UK hotels increase from 78.9% to 81.3% […]
A hospitality business adviser is warning owners of pubs and restaurants not to fall foul of new rules governing workers’ tips. Lynne Blakey, a director in the Bristol advisory consulting team at Evelyn Partners, the wealth management and professional services group, said new legislation coming into force on 1 October requires employers to distribute tips […]
The latest analysis by specialist lending experts, Rangewell, suggests that funding for the hotel sector has bounced back dramatically since the dark days of the pandemic and that the hotel sector is poised for a sustained boom period with demand for domestic hotel accommodation continuing to climb. It’s been a tricky few years for the UK […]
The hottest May on record, albeit wet, saw profits of UK hotels overtake pre-pandemic levels, according to the RSM Hotels Tracker. The data, which is compiled and produced by Hotstats and analysed by RSM UK, shows gross operating profits (GOP) of UK hotels reached 38.9% in May, up from 37.3% in the same period last […]
Retailers and hospitality venues are set to make £2.75bn during the Men’s UEFA Euro 2024 campaign, kicking off on 14 Friday June – a new report reveals. The Men’s UEFA Euro 2024 Spending Report by VoucherCodes.co.uk, the UK’s most trusted savings site, reveals that 35.4m supporters are expected to tune into tournament at home, bars, pubs, and restaurants. […]
Cost pressures, including the recent national minimum wage increase, are hitting the bottom line of UK hotels despite charging higher room rates, according to the RSM Hotels Tracker. The data, which is compiled and produced by Hotstats and analysed by RSM UK, shows labour costs per available room were up from £15.32 (March) to £16.62 […]
Two Drifters, a Devon-based distillery that featured on the last ever Hairy Bikers episode, is set for major growth having secured a £100,000 funding facility from Time Finance. The deal has been arranged to help fund the Devonian SME’s alcohol tax duty, enabling the business to bottle and distribute more of its sustainably produced rum. […]
While the UK hotels sector saw little benefit from the early Easter bank holiday weekend in March, the sector has made a strong recovery four years on from the first Covid lockdown, according to the RSM Hotels Tracker. The data, which is compiled and produced by Hotstats and analysed by RSM UK, shows occupancy increased […]
