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The health of the UK hotel industry continues to improve, with steady growth
predicted over the next three years, according to a report by
PricewaterhouseCoopers (PwC).
The report ‘Hospitality Directions Europe’ found that better than expected
economic growth, a sustained recovery in both business and leisure travel and
few over-supply problems had contributed to an expected annual growth in the
Revenue Per Available Room.
PwC predicted this to grow by 5.5% in 2006, by 4.5% in 2007 and by 4.9% in 2008.
London also received a favourable outlook with ‘healthy’ demand for luxury
hotels and the return of major events like the International Motor Show helping
push occupancy rates up by 8.7% to 82% for 2006.
By 2007 and 2008, London occupancy is forecast to reach 83%.
Liz Hall, head of research at PwC and editor of the report, explained: "The
hotel sector has had to work hard over the last few years to sustain its
recovery.
"The current boom is very much a case of London having the year it should have
had in 2005".
Source:
RedAlert
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