UK hotel industry growth is expected to slow this year, as global economic conditions will see consumer spending slow.
According to consultants PKF’s Hotel Britain 2008 report, budget hotels will benefit as consumers tighten their belts and spend less.
PKF hotel consultancy services partner Robert Barnard says the variety in the budget sector will be a key driver in sector’s growth.
“Continued investment within the industry will ensure interest in UK hotels; however, the economic forecasts predict lower consumer spending due to the credit crunch and a slowdown on the housing market,” he says.
PKF reviews the performance of 644 hotels representing over 100,000 rooms across the country.
By staff writer