Budget Hotels recorded good demand before COVID-19 as tourism levels were solid and many consumers sought better value for money. The fall in the pound's value following the Brexit vote expanded international tourist numbers, making domestic holidays cheaper for overseas visitors and holidays abroad more expensive for domestic consumers. This pushed up occupancy and room yield levels. The staycation trend, intensified by COVID-19 restrictions on international travel, has boosted demand for budget hotels in recent years. This industry is comprised of establishments that provide short-term, budget-priced accommodation to UK residents and international guests. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.Room for budget rooms: Financial difficulties encourage Britons to trade down to UK budget hotels
Table of Contents
ABOUT THIS INDUSTRY
INDUSTRY PERFORMANCE
PRODUCTS & MARKETS
COMPETITIVE LANDSCAPE
OPERATING CONDITIONS
KEY STATISTICS
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Whitbread plc
- Travelodge Hotels Ltd
Methodology
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