U.K. hotel trading performance in 2022 exceeds expectations
The U.K. hotel market has continued in its recovery, delivering a strong trading performance. Domestic leisure demand fueled the early recovery, but this has been supported by robust demand for business travel as well as flexible working trends generating new sources of demand. This comes despite continued challenging market conditions including accelerating costs causing profit margins to decline, according to the latest U.K. Hotel Trading Performance Review 2022 by Knight Frank, in partnership with HotStats.
Knight Frank’s latest comprehensive review of the United Kingdom’s hotel trading performance provides a unique and detailed review of hotel revenues, costs and profitability. The trading performance of the U.K. hotel sector has improved significantly in 2022, with London showing a remarkable rebound from the pandemic over the past seven months. Occupancy rates in the capital have recorded 70 percent occupancy for the seven-month period to the end of Octob