News for the Hospitality Executive
.Research and Markets Adds
Hotels Market Report Plus 2009
for United Kingdom Hotel Performance
January 7, 2010 - DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/48621c/hotels_market_repo) has announced the addition of the "Hotels Market Report Plus 2009" report to their offering.
This Market Report examines the performance of the UK hotel industry. Between 2004 and 2008, the value of the hotel market increased by 29.1% to reach £15.87bn in 2008. For the purposes of this report, the market is divided into two main sectors: corporate and consumer.
The growth that took place in the hotel industry from the late 1990s was fuelled by a number of factors: rising disposable income levels drove demand for second holidays, and the growth of budget airlines made it more affordable for people to travel, which benefited the hotel market both in the UK and overseas.
Within the UK, budget hotels that have fewer frills and lower prices have experienced rapid growth in recent years. These hotels — led by brands such as Travelodge and Premier Inn — put hotel stays into the reach of a larger range of the population. With much of the UK market being dominated by midmarket hotels, the larger brands have attempted to differentiate themselves at the higher end of the market by consolidating their portfolio at the four- and five-star level. This has led to a high level of activity in terms of acquisitions and disposals, as well as refurbishments and relaunches. Brand development has been a key strategy among the larger players, not only nationally, but in the global market. As business has become increasingly international, the ability to offer a consistent level of service across a number of destinations has become more important. The development of the Internet and direct booking facilities has also necessitated the need for more cohesive brand identity.
The onset of the global economic downturn and UK recession in 2008 has had an impact on hotel performance, with occupancy levels falling and hotels responding by putting together more appealing packages or cutting rates. The result has been falling revenues, and budget hotels may have taken a greater share of clients as corporate travel budgets are cut and leisure travellers look to minimise expenses. However, midscale and more upmarket hotels have also responded by offering incentives such as meals and free extra nights to appeal to clients.
The downturn in business will be reflected in lower turnover for the industry in 2009. While some commentators are already looking for more optimistic signs in the economy, it will be a year of recovery rather than growth. However, longer-term prospects remain positive.
Key Topics Covered:
1. Market Definition
2. Market Size
3. Industry Background
4. Competitor Analysis
5. Brand Strategy
6. Strengths, Weaknesses, Opportunities And Threats
7. Buying Behaviour
8. Current Issues
9. The Global Market
11. Company Profiles
12. Company Financials
13. Further Sources
For more information visit http://www.researchandmarkets.com/research/48621c/hotels_market_repo
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