Travel & Tourism back on its feet and set to exceed 2019; Over 1.1MN more Travel & Tourism jobs in the UK last year – 1 in 9 of all jobs; International visitor spend up more than 300%
The latest air ticketing data from ForwardKeys paints an optimistic picture for the UK outbound travel market this Autumn Half-Term holiday period. Year-to-date tickets issued for international Half-Term travel from the UK are currently just 6% behind the comparative period in 2019 and 37% ahead of last year.
The Hospitality Market Monitor reports that Britain had 100,176 licensed premises at the end of June, a net decline of 1,139 sites over Q2 2023. However, closures have reduced compared to H2 2022, and many vacated units have been swiftly reoccupied by emerging multi-site groups.
The highest consumer sentiment we’ve seen in 18 months strongly suggests we’re nearly back to normal. There’s improvement across all demographics, with the variance between age groups closing and less affluent socioeconomic groups catching up. Finances have stabilised, and some groups even have disposable income to spend. While inflation remains the biggest factor affecting finances, fewer people are cutting back and spending intentions have consistently improved since June 2022. We explore what these findings look like for consumer businesses.
Up and down the country, restaurants, pubs and hotels have been driven to the brink: more than a third of UK hospitality businesses said in October last year they could go bust within months amid surging energy bills and declining bookings.
In the latest updates on the regional market performance of the hotel industry in the United Kingdom, we share year-to-date data from May for 2023 compared to the same period in 2022 and 2019, according to HotStats’ monthly Hotel Benchmarking reports.
After a stronger-than-forecast performance for 2022, continued inflationary headwinds across energy, food and beverages (F&B) and payroll remain critical factors impairing the UK hotel industry’s recovery.
The combination of the King’s Coronation, Eurovision and three bank holidays means hospitality is set for a bumper month, according to UKHospitality.
Multiple events in the U.K., including the King’s coronation and Eurovision, are driving hotel occupancy on the books in both London and Liverpool, according to STR’s Forward STAR data.
Sentiment climbs for the second survey in a row, but consumers remain cautious