UK Hotels Forecast: Have Hard Times Checked In For An Extended Stay?
Our revised hotel industry forecast for the UK illustrates the toll that the contraction in economic growth and consumer spending is having on travel demand. With the consumer boom over and businesses reining in costs and cutting travel budgets, the UK hotel sector is already experiencing a sharp slump in sales. The market is hard to read but operators now have to fight a lot harder to win business in a shrinking market and the decline in hotel performance looks set to accelerate through Q1 to Q4 2009. Our report gives the outlook for hotels in the UK, London and the provinces.