Market Trends of UK Hospitality Industry
This section covers the major market trends shaping the UK Hospitality Market according to our research experts:
With the Dynamic Tourist Arrivals Rate in the United Kingdom, the Hospitality Industry is Generating Growing RevPAR Numbers
The total number of tourist arrivals in the United Kingdom are fluctuating. Domestic travel recorded around a few million visitors in the United Kingdom in 2021. The United Kingdom recorded a constantly growing number of domestic travelers till 2021.
The Brexit uncertainty resulted in a drop in leisure travel across the country and affected the overall visitor rate in the United Kingdom. The uncertainty also affected the total number of international travelers and resulted in a drop in the overall tourism number.
London as Tourist Destination is Driving the Market
There are more than 88 new hotel projects in the construction pipeline in London, and more than 16,000 rooms are expected to be added to the supply. The pipeline has international brands and domestic brands that are targeting the luxury segment of the industry. London is registering a growing RevPAR year-on-year, though the occupancy got stagnated between around 80-84% during 2018-2022. The growing RevPAR is helping the city attract more new projects and investors.
