18-22 May 2024
The Ravenala Attitude Hotel,
Mauritius
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23-24 May 2024
Large Hall of the Chamber of Commerce (Erbprinzenpalais),
Wiesbaden,
Germany
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30-30 May 2024
Four Seasons Hotel George V,
Paris,
France
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30 May - 02 Jun 2024
Rimini Exhibition Center,
Rimini,
Italy
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06-07 Jun 2024
Sataman Viilu ,
Jyväskylä,
Finland
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11-13 Jun 2024
Raffles City Convention Centre,
Singapore,
Singapore
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22-22 Jun 2024
Worldwide,
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22-24 Jun 2024
Las Vegas Convention Center,
Las Vegas,
United States
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PwC report: spike in available new UK hotel rooms to stymie growth |
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By Tom Walker 28 Mar 2019 |
The Great Scotland Yard hotel is one of the luxury properties to be added to the London hotel mix in 2019
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The outlook for hotel trading in the UK will remain flat throughout 2019, thanks to a surge in room supply, slowing global and UK economic growth and ongoing uncertainty relating to Brexit.
The prediction was made in a report by PricewaterhouseCooper, which sees the UK hotel sector entering a "challenging environment for performance growth".
PwC’s latest UK Hotels Forecast Update shows that while London should still boast relatively high occupancy levels, the high room supply levels mean that occupancy growth this year will be marginal at 0.3 per cent.
Other predictions include that revenue per available room (RevPAR) will grow by 1.7 per cent in 2019, taking RevPAR in the capital to £126.
In 2020, growth is anticipated to see a further 1.4 per cent rise, taking RevPAR to £128.
The picture is the same for hotels outside the capital, as high supply additions in many cities continue to affect hotel trading.
PwC's forecast shows that, for 2019, occupancy outside London will see a marginal fall of 0.1 per cent, while RevPAR is predicted to edge up by 0.4 per cent to £55.1.
“London saw stronger than expected demand in the last three months of 2018 which transformed the year for the capital," said David Trunkfield, head of hospitality and leisure at PwC.
“Early signs in 2019 are that January has continued to see some good growth, with record occupancy levels and ADR gains driving RevPAR growth to over 5 per cent.
"Weekend demand remains strong and the weak pound continues to support tourism and hotels, however there are worries that tourists, especially from the EU, may adapt a 'wait and see' attitude towards visiting the UK in 2019.
“While new supply grew by 2 per cent in 2018 it is forecast to increase by a further 4% in London this year and with uncertain demand, weaker corporate travel trends and no blockbuster events scheduled this year, this could dampen hotel performance."
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News |
1 to 12 of 8716 news stories |
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Paul Hawco, a seasoned figure in the international wellness industry, has assumed the role of executive director – integrated wellbeing at independent, hospitality group Banyan Group. With a background in therapy and fitness training, Hawco ... More
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10 May 2024
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08 May 2024
Luxury hotel brand Aman, widely known for its strong spa focus, has just launched its much-talked-about sister brand Janu in Tokyo – complete with a 4,000sq m urban wellness retreat. Janu Tokyo is only the ... More
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07 May 2024
Spanish wellness brand SHA Wellness Clinic is busy preparing to bolster its wellness portfolio in 2026 with a hyper-exclusive island wellness enclave in AlJurf, UAE. SHA Emirates Island at AlJurf – created by Abu Dhabi-based ... More
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03 May 2024
The historic Breakers Hotel in Long Beach, California, is set to reopen in mid-2024 as a Fairmont Hotels & Resorts property after a significant restoration and redevelopment project. The project, initially unveiled in 2022 by ... More
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03 May 2024
High-end five-star hotel company Kempinski Hotels is making its mark in Vietnam with a luxury waterfront property overlooking the Saigon River. Set to open by 2026, Kempinski Saigon River – designed by Kengo Kuma & ... More
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01 May 2024
Marriott International has signed a new deal with Neom to open a Ritz-Carlton Reserve property as part of Trojena, a brand new year-round mountain adventure destination in Saudi Arabia. Launching in 2026, Trojena is a ... More
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27 Apr 2024
The Bannatyne Group says it has officially bounced back from the pandemic, with both turnover and profits restored to pre-2020 levels in 2023, according to its year-end results. Owned by former BBC Dragon’s Den investor, ... More
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Lemi Group |
Lemi Group designs and produces treatment tables, chairs and multi-functional furniture and
[more] |
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Book4Time unveils enhanced day and resort pass functionality
With an increasing number of luxury hotels and resorts offering day and resort passes to
drive staycation business, Book4Time, a leader in innovative spa and wellness solutions, is
thrilled to announce the launch of Day & Resort Passes on its award-winning platform. ... more
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