UK Hotel, Tourism & Leisure Market Update – August 2022
By Marjolein Delhaye on August 31, 2022
The August edition of the Horwath HTL UK Hotel, Tourism & Leisure Market Update is released.
UK Hotel Performance
Performance continues to accelerate with a continued growth of average room rates, somewhat influenced by growing inflation but also supported by robust pent-up demand giving hoteliers pricing power to drive rates further.
London Hotel Performance
The capital has seen some of its highest occupancy levels in recent months since the onset of the pandemic, with occupancies in July exceeding the 80% mark, as the holiday season started and with international visitation rebounding.
UK Hotel Investment
Transactional volumes remained strong at the start of 2022 with European Q1 reaching €3.54 billion of which 47% took place in the UK market. Within the UK market, 75% of all transactions were in regional UK, indicating a continuity to the staycation trend that began since Brexit.