There is even better news for the regions, as it has been announced that hotel transactions in the UK, all £1.5 billion of them during the first half of 2014, were dominated by regional deals. In fact, in the first six months of 2014, 60% of hotel transactions took place outside of London.
There is some way to go before the hotel industry hits the highs of 2006 (arguably the last time we had any positive business news, when £6.3 billion was spent, but it’s heading in the right direction!). According to a recent report, business was up 65% on the second half of 2013.
Hotels Changing Hands
A lot of hotels are changing hands: the Four Pillars group, De Vere Venues, two former Akkeron Hotel portfolios and a number of others. This shows a desire for investment in the sector as Nick van Marken, global head of hospitality at Deloitte explains:
“This is the second strongest start to a year since the peak in 2007,” he said. He continues by saying that international buyers are particularly interested in UK regional hotels. “We expect deals will close more quickly in the second half of 2014 with significant appetite on the part of private equity in particular.”
And if more proof is needed, it seems that April saw a 10% rise in domestic holidays according to Great British Tourism Survey (GBTS).
Now if I recall correctly, the weather up until about two months ago, has been typically British: the end of winter and the whole of spring was pretty wet but forgetting the floods for a moment, it seems that Easter still saw people taking 3.8 million domestic holiday trips in the UK. And 70% of accommodation providers have forward bookings for the school holiday period.
Get Checked Out
So the news is positive for UK hotels: and with customers showing more confidence, these establishments themselves have to be prepared. This means ensuring that all facilities are working to capacity, including the kitchen.
Get your oven checked out, make sure that your Rational appliance is maintained frequently by an authorised service partner, like AC Services (Southern), who provides services to some of the major domestic holiday spots in the South, Southwest England and Wales.
Positive Holiday Spirit
Last word to VisitEngland chief executive James Berresford who said: “It is fantastic to see a boost in domestic holiday trips . . . with businesses feeling confident as the summer holiday period gets well underway . . . We have seen the trend to holiday at home soar in the past five years and it’s a trend we’re confident will continue.”