Will Brexit Change the UK Hotel Industry?
It’s no secret that it is becoming more and more difficult to avoid all the talk of Brexit, and be exposed to some of the horror speculation which takes place on various news channels. This makes it difficult to wade through to the real truth about how the UK’s exit from the European Union will affect the UK hotel industry.
One of the main talking points is the slipping value of the British Pound against the Euro. With £1 getting you €1.13 (correct on 06/07/2018) it is no surprise that your holiday spending money is not stretching as far as it was three years ago! That’s less mementoes for your money.
While this might mean that popular European resorts like Tenerife and Santorini have seen a downturn in visitors, it has also resulted in the people of the UK looking for holidays closer to home. The ‘staycation” has seen an increase in popularity to levels that have not been seen since the 1950’s.
Travel marketing group Sojern found that, based on searches and bookings made for departure between June and August 2017, there was a 23.8 percent rise in British holidaymakers planning UK stays for summer 2017.
This is great news for the UK hotel industry. According to VisitBritain, 59 million staycations in Britain were taken in 2017, bringing £23.7 billion to the UK economy.
One resort benefiting from the staycation boom is one very close to our hearts here at NPD. Llandudno, home to our first hotel cluster and voted the UK’s number one beach resort of 2016 by TripAdvisor, has proved to be a firm favourite. This has been proved by the success of our three hotels taking pride of place right on the seafront. The Belmont, Queen’s Hotel and Llandudno Bay Hotel boast an average occupancy of over 70% and have amassed an incredible combined 13 stars from TripAdvisor.
The trend looks set to continue rising. With the debate still raging on the finer details of Brexit, the risk of travel restrictions becomes even more worrying. All this only makes staycations look more and more appealing. Not only are they better value for money but they can save travellers a huge amount of unnecessary hassle.
All in all, staycations will allow many of us to re-connect with the UK and explore some of its hidden gems, and what better time to do it than in this glorious summer that has swept the nation.
Credit: Antony Smith, Communications Liaison, NPD.