Licensed Property News: Hotel trade is flourishing

By: Paramount-Magazine  Published Date: 15 Dec 2011 17:31

The hotel industry has continued to grow in 2011 despite us being in the midst of a gloomy economic climate.

Mark Blick, managing director of brokerage consultancy Soric International, said that the UK remains a strong place for hotels to operate in and many individuals and firms are still reaping the rewards of moving into the hospitality sector.

"The recession has not prevented the UK hotel industry from expanding as 106 hotels were opened in 2011, containing 11,800 rooms and an additional 170 hotels [with] 21,500 rooms are expected to open in 2012,” he stated.

Mr Blick added that investment from overseas has played a major factor in keeping the industry buoyant and for those in London, next summer’s Olympic Games is set to the hotel business into overdrive.

Indeed, hotels, bars and restaurants in London have been tipped to play a leading role in driving the UK economy out of recession by Oxford Economics and the British Hospitality Association (BHA).

via paramountmagazine.co.uk

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