“Tourico Holidays today shared travel forecast data predicting a more than 30 percent year-over-year increase in United Kingdom hotel room nights in the second half of 2016. According to company booking data, Tourico has already sold nearly a quarter of a million room nights in the United Kingdom in 2016 – led by a 12 percent year-over-year increase from the United States.
While source markets like China and Germany only account for 4 percent and 6 percent of inbound UK travel bookings respectively, both source markets have increased their average daily reservations by over 100 percent 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, Vice President of the European Region for Tourico Holidays. “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.”
Secondary markets, like Manchester, have already grown 60 percent year-over-year in forward bookings since the Brexit vote. As a result of the forecasted growth, Tourico Holidays 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 United Kingdom.
“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.”
Source; Hotel News Resource 28th July 2016
Although it is only a few weeks since the Brexit vote there is mounting evidence of positive trends in the hotel sector. With increasing demand from the US, Far East, Europe and UK markets it will surely lead to an increase in occupation, increasing room rates and higher profits for UK hotels.