Archive for the Economy Category

RevPAR slowdown could lead to lack of ‘investor interest’

Some investors could become wary of hotel assets due to RevPAR (rooms revenue per available room) plateaus amid predictions of labour shortages and increasing costs, according to the Hotel Bulletin Q3 2017 published this week by HVS, AlixPartners, STR and AM:PM. The Bulletin reports that in Q3 2017 average growth in RevPAR at 5% was the lowest level since Q1 2016, although the overall long-term outlook for UK hotels remains positive. While these results outpace UK GDP growth, which has averaged below 1% in the same period, the impact of a lower growth environment, global political uncertainty and an increasing


UK hotel bookings increase by 29% in 2017

Tourico Holidays, wholesale travel brokerage company, today shared data reporting a 29% increase in hotel bookings to the United Kingdom in 2017, compared to the same time last year. The growth in inbound bookings can, in part, be attributed to the United Kingdom’s most consistent source markets. Based on Tourico’s latest hotel booking report, the United States increased its year-over-year bookings to the UK by 11%, while Canada increased its bookings by 35%. South America increased its bookings by 38% in 2017 and the Middle East market increased by 22%. Asia-Pacific travelers continue to seek out UK travel products as


Luxury hotel and wedding venue goes into administration

The Prestbury-based Bridge Hotel has called in the administrators, 60 years after it first opened. The three-star property entered administration on Tuesday 24 October, but will still operate as normal. Arron Kendall and Simon Thomas of Moorfields Advisory were appointed as joint administrators. The hotel has 23 rooms and has become a popular destination for weddings over the years, due to its garden views and proximity to the River Bollin. None of its 40 members of staff will be made redundant. Arron Kendall, joint administrator, said: “The Bridge hotel has been running since 1952 in the heart of Cheshire, but


Hotel sector ‘largest employer in the tourism industry’

Hotels are the largest employers in the tourism job sector by far with 77% of all job vacancies in the last 12 months being hotel-based, according to an analysis by job search site Joblift. Given their dominance in job vacancies, the most sought after professions in the sector reflect the most advertised positions in hotels. Chefs are the most requested position accounting for 22% of all listings, followed by receptionists with 5%, with restaurant managers ranking in third place with 3%. Joblift’s studies show that around 335,131 job vacancies in the tourism sector have been posted in the UK in the


Hotel industry confidence ‘low’ despite increased bookings

Confidence in future bookings and revenue is the lowest it has been since September 2016, according to a UKinbound-backed survey. The latest Business Barometer members survey, compiled by Qa Research in conjunction with UKinbound, suggests that hoteliers confidence is low in spite of the same survey showing that bookings, visitor numbers and revenue yield are on-par or higher than 12 months ago. Just 53% of respondents showed confidence in future bookings, compared to 67% in September 2016. Higher costs of food and beverage, the dampening effect terrorist attacks and strong competition were some of the reasons cited by those who


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