PwC UK Hotels Forecast Update 2013 - A challenging year ahead for hoteliers
This updated UK hotels forecast reflects our latest thinking on hotel performance in 2013, with the outlook now impacted by weaker UK economic prospects but also supported by a weaker pound. While we still anticipate overall trading declines in 2013, these falls are less sharp for London but more unfavourable for the provinces than we predicted in November.
This updated UK hotels forecast reflects our latest thinking on hotel performance in 2013, with the outlook now impacted by weaker UK economic prospects but also supported by a weaker pound. While we still anticipate overall trading declines in 2013, these falls are less sharp for London but more unfavourable for the provinces than we predicted in November. The revised forecast expects UK hotels to continue to struggle to overcome the impact of weaker demand at home and in major inbound markets. This will be driven by: the eurozone crisis; continued cuts in the public sector; an unrelenting squeeze on household incomes and confidence, and further above average supply additions in London and some other UK cities.
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