Hospitality Directions Issue 19 - PricewaterhouseCoopers' latest edition contains two articles that focus on the tough times ahead
UK hotels forecast: have hard times checked in for an extended stay? Our revised hotel industry forecast for the UK illustrates the toll that the contraction in economic growth and consumer spending is having on travel demand. With the consumer boom over and businesses reining in costs and cutting travel budgets, the UK hotel sector is already experiencing a sharp slump in sales. The market is hard to read but operators now have to fight a lot harder to win business in a shrinking market and the decline in hotel performance looks set to accelerate through Q1 to Q4 2009. Our report gives the outlook for hotels in the UK, London and the provinces.
Click here for the pdf version of "UK hotels forecast: have hard times checked in for an extended stay?"
Hotel real estate: hunkering down This paper presents the key highlights for the hotel property sector from PricewaterhouseCoopers’ recent report, Emerging Trends in Real Estate Europe 2009. Although investment activity has slowed, respondents to PwC’s Real Estate Survey suggest that the “price declines should lead to interesting investment opportunities in 2009/2010.”
Click here for the pdf version of "Hotel real estate: hunkering down."