UK hotel industry shakes off recession to post record expansion, says study
The UK hotel industry defied the recession to record its largest ever expansion in the decade up to the end of 2013, with total investment for the period topping £13bn, according to a new report.
The industry added 106,380 new rooms over the 10-year period, while shedding 40,000 to record a net gain of around 66,000 rooms. And the growth looks set to continue, with 9,300 more rooms planned for 2014 and 2015 in London and over 14,700 rooms elsewhere in the UK.
Hospitality Digest 2014, a new 190-page publication by the Institute of Hospitality, used figures provided by construction consultants Gleeds to produce an overview of key facts and figures outlining the UK hospitality industry and the trends that are underlying its growth.
“In a single publication it contains all the key factual information on the growth of the industry’s key sectors – tourism, hotels and foodservice, as well as articles and information on employment and education in the industry,” says Peter Ducker, chief executive of the Institute of Hospitality.
“We believe it complements the information that is available in our library and builds the Institute’s reputation as an up-to-date source of knowledge on the hospitality industry,” Ducker concluded.
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