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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May- 2018 -23 MayProperty
Grange Hotel sold to international investors for £4.5m
The Grange Hotel in Grange-over-Sands, Cumbria, has been sold to the Fairtree Hospitality Real Estate Private Equity Fund for £4.5m. The acquisition by Fairtree represents its eighth investment in the UK hospitality market. The Fairtree Fund already owns seven further hotels including Borrowdale Gates Hotel, Grange-in-Borrowdale and a number of…
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2 MayHotel Brands
PPHE’s Q1 revenue up 3% thanks to occupancy rise
PPHE Hotel Group, the international hospitality company, has reported a 3% increase in revenue to £59.4m mirrored by an increase in its occupancy rates. The group that operates the Park Plaza brand and owns the Art’otel brand also saw its like-for-like basis revenue increase by 1.5% to £58.5m up from…
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1 MayEconomy
STR confirms UK serviced apartment occupancy has dropped in Q1 2018
Occupancy rates for serviced apartments in the UK have dropped in the beginning of 2018, according to market insight company STR. STR’s Q1 results for the UK serviced apartments confirm that it has been a more challenging start to the year, with occupancy for the UK as a whole down…
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Apr- 2018 -11 AprilTourism
Record visitors to UK from North America, says CIE Tours
There is further evidence that the strength of the US economy combined with the fall in the value of the pound sterling has boosted tourism in the UK, according to CIE Tours International. At its annual UK Awards, the coach tour operator said sales in 2017 were 10% up on…
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Feb- 2018 -27 FebruaryHotels
Scottish hotel sector reports healthy growth
Tourism and hotels have defied expectations to deliver significant growth in Scotland, despite the uncertainty that Brexit has subdued performance in a number of commercial sectors. Commercial property agency GVA’s ‘Hotels Economic and Property Market Review’ has highlighted strong hotel market performance across the UK in 2017. In Scotland, this…
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8 FebruaryHotels
Transactions in UK hotel industry doubled in value in 2017
The combined value of transactions in the hotel industry for 2017 was £4.6bn, nearly double that of 2016. On a quarterly basis transaction values were also high at £1.3bn for Q4 2017, the highest since Q4 2015. AlixPartners said the impact of the EU referendum in 2016 can be seen…
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Jan- 2018 -31 JanuaryHotel Brands
PPHE’s revenue increases 19% thanks to London expansion
The PPHE Hotel Group has reported a 19% increase in revenue for 2017 which it has attributed to the opening of two hotels in London. The Park Plaza and Art’otel owner reported the year-on-year growth in a trading update to 31 December 2017. The opening of PPHE Hotel Group’s 494-bedroom…
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11 JanuaryEconomy
London hotel occupancy declines, ADR climbs, in December
STR’s preliminary December 2017 data for hotels in London indicates a year-on-year decline in occupancy levels, but growth in average daily rate (ADR). Occupancy levels for hotels in London dropped 2.7% in December compared with last year, and are now at a total of 77.9% occupancy. The movement is attributed…
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Dec- 2017 -14 DecemberFeatures
UK meets the Far East – How social media can attract Chinese travellers
Chinese travellers brought £231 million in visitor spend to the UK in the first half of 2017, and VisitBritain has ambitions to help it pass the £1 billion mark by 2020. With one job in Britain’s tourism industry said to be created for every 22 visits from China, tourists from…
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Aug- 2017 -14 AugustEconomy
UK hotels post record H1 performance
The first six months of the year produced the UK hotel industry’s highest occupancy, average daily rate (ADR) and revenue per available room (RevPAR) for any first half on record, according to data from STR. When compared to the same period last year, there was a 1.7% increase in occupancy…
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