UK Hotel Demand on the Rise Post-Brexit
PHOTO: The Langham Hotel, London. (Photo courtesy of Langham Hospitality).
New data from wholesale travel brokerage company Tourico Holidays predicts a more than 30 percent year-over-year increase in U.K. hotel room nights in the second half of 2016 following last month's Brexit vote.
Tourico revealed Thursday that it has already sold nearly 250,000 room nights in the U.K. this year in large part because of a 12 percent year-over-year increase from the U.S.
Interestingly, the company's data shows that while source markets like China and Germany only account for a combined 10 percent of inbound U.K. travel bookings, both have increased their average daily reservations by more than 100 percent since the EU referendum on June 23.
But primary markets like London aren't the only destinations benefiting. Secondary markets have grown a whopping 60 percent year-over-year in forward bookings since last month's vote. That includes places like Manchester, England.
"The U.K. 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 U.K. travel market," said Tourico's Vice President of the European Region Mark Redmond in a statement. "Not only will international travelers see it as an opportunity to finally book a trip to what was formerly considered a high-priced destination, we anticipate British travelers will also travel more within the UK — to avoid exchanging a weak currency."
Looking ahead, Tourico's forecast is undoubtedly an encouraging one for the region's hotel industry.
"We partner with over 1,000 U.K.-based hotels — from London to Glasgow — and we expect high demand at all of them in the second half of 2016," concluded Redmond.
More by Patrick Clarke
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