The U.K. hotel market is set to rebound strongly once the economy revives and travel restrictions are lifted post the COVID-19 pandemic, according to research by Knight Frank.
The independent property consultancy is predicting a surge in investment volumes in fourth quarter 2019 and says that a full market recovery may be possible in London by fourth quarter 2021, if the market reopens by the end of second quarter 2020.
Knight Frank’s research analyzed the speed at which the U.K. hotel market has recovered following major events in the past, such as the economic downturns in 2001 and 2009, SARS and Brexit.
The unprecedented events of COVID-19 mean that the immediate economic impact is anticipated by many to be more severe than past economic downturns, with hotels likely to be disproportionately impacted due to the challenges coming from a period of lockdown.
Despite this, Knight Frank is forecasting a V-shaped, stepped recovery to follow, with occupanc
