Richard Carr, an operator in the UK hotel market, was pleased to read the latest report from CBRE hotels, which suggests that there is ‘considerable headroom’ for further revenue and profit growth in 2015.
Strong occupancy driving growth in the sector
The report also reviewed last year’s performance, which saw the UK regional hotel market experience 9.2% revenue per available room.
Growth was also experienced on meetings and events, with revenue per square metre of conference space up 7.6% year on year in 2014.
The report suggested that the UK’s regional hotel performance was in part a result of the country’s continued economic recovery. Britain’s GDP is ahead of any other G7 counterpart in terms of growth, whilst unemployment levels are now at pre-recession levels.