BusinessCompany NewsPwC: UK hotel industry strongest in six years

PwC: UK hotel industry strongest in six years

Vacancy rates continue to fall says PwC

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.

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 (RevPAR).

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, said: ‘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,’ she said.

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