PRESS RELEASE BY MBD...

UK HOTELS MARKET RESEARCH REPORT

RELEASED: JULY 2008

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 2003-2007:

In 2007, the UK market for hotels reached £9.9 billion, representing growth of 3% in the year and of 13% compared with 2003. The value of the hotel market increased during each year under review, with the annual level of growth fluctuating between 2% and 3%. Growth in the market reflects the rising trend towards short break holidays, the increasing number of budget hotels and budget airlines and the availability of packaged deals for ‘must see’ destinations. The market has also benefited from a rise in business conferences, which have increased despite the more widespread availability of new technology such as videoconferencing and web seminars. UK airports have been affected by a number of unpredictable incidents during recent years such as the threat of SARS, the 7 July bombings in 2005 and the August 2006 terror alerts. However, the impact of all these events is believed to have been short lived.

MARKET FORECAST 2008-2012:

MBD believe the UK market for hotels will increase during the majority of the forecast period, albeit at a moderate rate. In 2008, market value is anticipated to decline by 2% in real terms to £9.7 billion (at 2007 prices), reflecting uncertainties regarding the economic outlook. In 2012, stronger real term growth of 5% is expected to take the value of the market to £10.7 billion (at 2007 prices), representing overall growth of % in real terms compared with 2007. Significant growth projected in 2012 is partially attributable to London hosting the Olympics and Paralympics. However, it is possible that the UK hotel market could be negatively affected by further terrorist activity, slow economic growth, and health scares in future years.

NOTE TO EDITORS:

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

Click here for full details of the UK Hotels Market Research Report

MBD WELCOMES PRESS ENQUIRIES:

Press releases on the latest MBD market research reports can be sent to editors and journalists involved in trade magazines.

Full press releases are available, please email your request, along with the magazine title you are writing for, to pressoffice@mbdltd.co.uk.