DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/nc4g62/hotels_market) has announced the addition of the "Hotels Market Report 2013" report to their offering.
In 2012, the authors estimated that the hotels market grew at a relatively subdued rate of 0.2%, despite London hosting the Olympic and Paralympic Games in that year. While the 2012 Games certainly benefitted London hoteliers, regional hotels and those in Scotland and Wales continued to struggle throughout the year. In addition, the impact of the Games had a detrimental effect on the volume of traditional tourism during and around the time of the event, with many holiday makers avoiding London, assuming that prices would be raised and traffic would be heavy.
Growth in the hotels market is, however, largely driven by the city of London, with significantly higher rates of occupancy and revenue per available room (RevPAR) generated in the capital, in comparison to regional hotels in England, Scotland and Wales. In London, growth in 2012 was largely a result of increased expenditure per visitor from tourism related to the London Olympic and Paralympic Games despite the volume of tourism falling during the event alongside growth in international tourism over the full year.
Despite the number of international visitors increasing in 2012, the UK hotels industry has been affected by the drop in overseas visitors in 2009 and 2010, as a result of depressed economic conditions in the wake of the economic recession. Although growth in both 2011 and 2012 is a positive indication for the hotels industry, international visitor numbers remain just under 1 million less than pre-recession levels. However, with the UK gaining increased exposure throughout 2012, alongside extensive international marketing campaigns by the Great Britain (GB) tourist boards, growth in the number of overseas visitors could be rapid in the coming years.
Future growth in the hotels industry is expected to remain fairly subdued over the next few years, as continued economic uncertainty pervades the UK and the major European source markets for inbound travel. From 2015, however, as economic conditions and global tourism recover, the authors forecast increasingly significant growth. Over the 5-year period between 2013 and 2017, they also forecasts that the value of the UK hotels market will increase by 13.3%.
- Accor UK Business and Leisure Hotels Ltd
- Dorchester Group Ltd
- GLH Hotels Ltd
- Hilton Worldwide Ltd
- InterContinental Hotels Group PLC
- Marriott Hotels Ltd
- Millennium and Copthorne Hotels PLC
- QMH Ltd
- Rocco Forte and Family Ltd
- Whitbread PLC
For more information visit http://www.researchandmarkets.com/research/nc4g62/hotels_market
About Research and Markets
Research and Markets is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.