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Press Release: UK Hotels Market Development Report

Released: May 2009

After researching the UK hotels market development and taking into account various other factors the following conclusions can be drawn from MBD's report:

Market Review 2004-2008:

In 2008, the UK hotel market was estimated to have declined by 2% to £9.7 billion, representing the first decline of the five-year period under review. The fall in value can be largely attributed to the negative impact of the economic downturn on consumer confidence and spending, with corporate clients in particular reigning in spending on non-essential activities to reduce costs. Prior to this, the UK market for hotels is believed to have reached a review period peak of £9.9 billion in 2007, representing growth of 3% in the year.

Market Forecast 2009-2013:

MBD believe that the market for hotels in the UK will demonstrate growth throughout the five-year forecast period, with the exception of a notable 3% decline in real terms to £9.5 billion (at 2008 prices) in 2009. This largely represents the anticipated reduction in demand from corporate clients during the recession, as well as lower occupancy rates amongst international and domestic visitors as consumer confidence remains unstable amid the credit crunch, health scares and potential increases in Visa and air travel charges. Nevertheless, the market is estimated to increase between 2010 and 2013, reflecting enthusiasm from tourists and an expected upturn in the economy. However projected growth is moderate due to uncertainties regarding the economic outlook and factors that directly influence levels of tourism. Real term growth is projected to reach a forecast period peak of 3% in 2012, partially attributable to London hosting the Olympics Games in the year. Overall, the value of the UK market for hotels is anticipated to increase by 5% in real terms between 2008 and 2013.

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MBD specialises in business to business market research. The range of reports and industries in which we operate in is constantly expanding (our portfolio comprises of more that 140 titles). All our reports are written by in-house market consultants.

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