Sterling
Fluctuations in the value of the British pound (GBP) can have wide-ranging effects on the UK hotel sector, from international visitor demand to supplier costs and investment flows. We report on market trends, currency forecasts, and the economic impact of sterling movements on pricing, profitability, and overseas travel patterns. Coverage also includes how hotel operators and investors adapt to currency volatility in their financial and strategic planning.
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Mar- 2020 -11 MarchCoronavirus
Bank of England cuts interest rates to help combat coronavirus impact
The Bank of England has cut UK interest rates back down to the lowest level in history to help mitigate the impact of the coronavirus outbreak on the economy. The governor of the Bank of England, Mark Carney, announced the 50 basis point (0.5 percentage point) reduction, from 0.75% to…
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2 MarchHotels
European hotel transactions reach ‘record high’ in 2019
Total European hotel transaction volume has reached the highest annual level ever recorded last year with €27.1bn (£23.6bn) worth of deals “being struck”. According to the annual European Hotel Transactions report published this week by HVS and brokerage and investment services division HVS Hodges Ward Elliott, the largest amount of…
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Feb- 2020 -12 FebruaryFeatures
UK hospitality insolvencies the worst in seven years
Statistics for hotels and hospitality distress According to the official statistics from the Insolvency Service on Industry Insolvencies to September 2019 (table A1c, lines 243-248) the industry as a whole in the UK is taking a gradual turn for the worse. 144 hotel operators became insolvent in the 12 months to September…
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Dec- 2019 -20 DecemberHotels
Celtic Royal Hotel acquired by international investor
The Celtic Royal Hotel in Wales has been sold by Colliers International to a private international investor. Colliers International sold the site at an undisclosed price on behalf of private owners, Markus and Sinead Donsbach. The anonymous investor was advised by Fairtree, and now the hotel will be managed by…
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10 DecemberBusiness Bites
Want to know who will win the election? Watch the pound
In recent years there has been a lot of talk about how badly wrong pollsters can get it. Nobody thought Trump would win, nobody thought Leave would win the referendum, indeed even elections have been too close to call. Though it now feels like a different historical epoch to look…
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10 DecemberHotels
UK luxury hotel market remains ‘buoyant’ in 2019
Some 50 luxury and premium hotels have opened across the UK in 2019, according to new research from private wealth firm Boodle Hatfield. Since 2018, the total number of luxury hotels in the UK has risen to 3,380, up from the 3,330 sites recorded in the 2017/2018 period. However, the…
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Nov- 2019 -12 NovemberEconomy
Affluent overseas tourists driving number of new luxury London hotels
Affluent overseas tourists are driving the number of new luxury hotels in London, with 210 new properties currently in the development pipeline for the capital according to private wealth law firm Boodle Hatfield. Out of the hotels with planning permission, or already under construction, across the capital, almost a quarter…
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Oct- 2019 -25 OctoberEconomy
RevPAR falls at regional hotels amid challenging Q3
Trading in Q3 for UK hotels has shown considerable contrast between those in London compared with the provinces, according to the latest UK Hotel Market Tracker: Q3 2019, produced by HVS London, AlixPartners and STR. With London properties seeing rate-driven revenue per available room (RevPAR) growth of 5.1% to £145.97…
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24 OctoberProperty
KS Hotels enters hotel market with Red Hall acquisition
The three-star 37-bedroom country hotel Red Hall Hotel in Bury has been acquired by the newly formed hotel company KS Hotels Limited. The new company has previous experience in running a regional child care business and has now decided to branch out into the hotel sector. Red Hall Hotel also…
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Sep- 2019 -23 SeptemberHotels
Ruthin Castle Hotel sold for £4.95m
The Ruthin Castle Hotel and Spa in North Wales has been sold to a Newco buyer, backed by a Yorkshire based entrepreneur, off a headline price of offers in the region of £4.95m. The Grade II listed hotel is a castellated mansion, dating from 1825-6 (extended 1851-6), incorporating parts of…
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