Brexit gives UK hotels a big boost

Data forecasts 30% growth in hotel room nights
Data predicting a more than 30% year-on-year rise in United Kingdom hotel room nights in the second half of 2016 has been released by US-based wholesale travel brokerage company Tourico Holidays.
According to company booking data, Tourico says it has already sold nearly a quarter of a million room nights in the United Kingdom in 2016, led by a 12% increase from the United States.
Although source markets like China and Germany account for only 4% and 6% of inbound UK travel bookings respectively, both have increased their average daily reservations by over 100% since the Brexit vote.
“The United Kingdom has always been one of Tourico’s top revenue earning destinations, but early booking trends since Brexit show a falling pound is actually strengthening the UK travel market,” said Mark Redmond, Tourico Holidays’ vice president for the European region.
“Not only will international travellers see it as an opportunity to finally book a trip to what was formerly considered a high-priced destination, we anticipate British travellers will also travel more within the UK – to avoid exchanging a weak currency.”
Secondary markets, like Manchester, have grown 60% in forward bookings since the Brexit vote.
As a result of the growth forecast, Tourico has increased its resources in the area to prepare for the heightened demand. The company has hired a team of new sales employees dedicated to contracting travel suppliers and operators in primary, secondary and tertiary markets within the UK.
“We partner with over 1,000 UK-based hotels – from London to Glasgow – and we expect high demand at all of them in the second half of 2016,” Redmond said.
TTG Nordic

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