While the UK hotel sector ended 2023 on a high, new data shows this was largely driven by the luxury market with a spike in room rates and profits, according to the RSM Hotels Tracker: Focus on Asset Classes. The data, which is compiled and produced by Hotstats and analysed by RSM UK, highlights that […]
According to Savills, Scotland saw hotel transaction volumes (sales of £1m +) reach £310m in 2023, up 98% on 2022’s figure of £156m. Overall Scotland accounted for circa 14% of all UK hotel deals last year as the market remained resilient despite ongoing economic headwinds. Savills recorded 31 transactions in 2023, most notably the sale […]
New spending data by Airtime Rewards reveals that pubs and bars saw consumer spending drop by 21% in January, compared to the monthly average across 2023, after what is set to be the driest January on record. According to Airtime Rewards’ latest customer poll, one in ten (11%) Brits planned to have a dry January […]
London hotel occupancy overtook pre-pandemic levels for the first time in December 2023, marking a strong end to the year for the industry, according to the RSM Hotels Tracker. The data, which is compiled and produced by Hotstats and analysed by RSM UK, showed occupancy exceeded rates seen in December 2019 from 78.3% to 80% […]
This week’s company insolvency statistics show accommodation and food services insolvencies increased 30% in Q4 2023 (from 775 in Q4 2022 to 1,013 in Q4 2023) and were up 37% on an annual basis (from 2,712 in 2022 to 3,726 in 2023). Robyn Duffy, consumer markets senior analyst at RSM UK, comments ‘Despite positive sales […]
Today, Square, the technology company that makes commerce and financial services easy and accessible, has released its fourth annual Future of Commerce report. The report features comprehensive analysis on how business owners and consumers are considering the evolution of the restaurant, retail, and beauty industries, offering insights on how these businesses are shifting – and […]
A Cambridge-based publican and micro-brewery owner has secured a £1.1m funding deal to purchase a landmark pub and hotel business on the outskirts of the city, paving the way for future growth. Marcus Turpin is primarily utilising the facility provided by alternative finance lender Reward Finance Group to purchase The Lord Byron Inn in Trumpington […]
The latest research into hospitality sector leaders’ views on Environment, Social and Governance (ESG) issues highlights multiple concerns around the implementation of ESG measures, as well as regional differences in priorities. Over 250 hospitality leaders across the world shared their thoughts on ESG issues as part of a major study conducted by King’s Business School […]
Occupancy and room rates of UK hotels held up better than expected in November. Despite following seasonal trends and declining slightly, both indicators outperformed the same period in 2022, according to the RSM Hotels Tracker. The data, which is compiled and produced by Hotstats and analysed by RSM UK, shows occupancy was down from 79.2% […]
London hotels relied on other revenues, such as their food and beverage services, to boost overall revenue in October, as room rates reached their peak and the sector heads into the quieter winter months, according to the RSM Hotels Tracker. The data, which is compiled and produced by Hotstats and analysed by RSM UK, shows […]
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