The U.K. hotel market has recorded another year of strong trading performance, according to the latest UK Hotel Trading Performance Review 2023 by Knight Frank in partnership with HotStats. Despite a particularly challenging macroeconomic environment, the sector has delivered strong revenue growth, with profits now exceeding pre-pandemic levels across most markets.
The trading performance of the U.K. hotel sector has continued to improve significantly in 2023, with London’s 12-month occupancy increasing by 16 percentage points to reach 77 percent, ahead of the United Kingdom’s regional occupancy performance for the first time since the post-pandemic recovery began and in line with historical trends.
Meanwhile, the high inflationary environment has supported pricing, with London’s ADR1 rising by 8 percent in the past 12 months and up 22 percent on its 2019 performance. The ongoing recovery of overseas visitors has been the key driver behind the signifi
