UK Hotels market report
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Providing the most comprehensive and up-to-date information and analysis of the Hotels market, and the behaviours, preferences and habits of the consumer.
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What are the key challenges facing the industry and how fast are its rates of growth? Who is the consumer and what do they want? Where are the opportunities, where are the risks and what lies ahead?
What you need to know
After a poor 2016, the number of hotel/motel/guesthouse stays is estimated to increase by 4% to 63 million in 2017. The number of nights is estimated to increase by 3.7% to 170.7 million in the same period.
The Pound suffered sharp devaluation following the Brexit vote in June 2016 and has remained low ever since. This means that overseas trips are more expensive for UK consumers, and we are already seeing an increase in the number of domestic holidays taken in 2017.
On top of this, on 2 November 2017, the Bank of England announced it would raise interest rates from 0.25% to 0.5%, the first increase in 10 years. This means that consumers without a fixed-rate mortgage will be paying more and will have less disposable income to spend on holidays (everything else being equal). Nearly 4 million households will now pay higher mortgage interest payments following the increase. This will put pressure on finances which will mean that many will choose to holiday in the UK rather than going overseas.
The weak Pound also means that the UK is an attractive destination for overseas holidaymakers. There has already been a surge in inbound visits in 2017, and this should benefit luxury markets as affluent foreign visitors trade up on high-end services due to the perceived value on offer.
Covered in this report
The market section of this Report examines hotels, motels and guesthouses in the UK used by both domestic and foreign tourists for any leisure, business and visiting friends and relatives (VFR) purposes. The Report also looks at UK consumer attitudes towards seven different hotel brands operating in the UK. It also examines a range of issues related to the UK consumer when staying in commercial accommodation including:
- Accommodation types of stay in the past 12 months
- Purpose of stay
- Preferences for hotels versus Airbnb
- Hotel research and booking
- Package bookings and booking lead times
- Attitudes towards data sharing with hotels
- General attitudes towards hotels (eg attitudes towards paying extra for added comfort, exercise facilities etc).
Expert analysis from a specialist in the field
Written by Fergal McGivney, a leading analyst in the Travel sector, his extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
The outlook for the UK hotel market looks promising despite uncertain economic times. The constrained incomes of UK consumers will cause some to holiday in the UK rather than abroad. In addition, inbound trips by foreign tourists are increasing as the weak Pound makes the UK cheaper to visit.
What you get
This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel's proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
* This is a sample representation of the report layout and does not reflect the research included in this report.
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