Short-term rental bookings boom in the U.K. after roadmap announcement

Following Prime Minister Boris Johnson’s announcement last week that the United Kingdom would begin easing lockdown plans – with all restrictions lifted starting June 21 – short-term rental bookings for the summer months have boomed. According to data from short-term rental software provider Guesty, reservation volume jumped 88% over reservation volume the week prior. From […]

U.S. Hotel Profitability Improved Slightly In January

BROOMFIELD, Colorado – U.S. hotel gross operating profit per available room (GOPPAR) improved slightly from prior months but remained in the low single digits, according to STR’s January 2021 monthly P&L data release. In a year-over-year comparison with January 2020, the industry reported the following: GOPPAR: -95.9% to US$3.14 TRevPAR: -73.3% to US$60.94 EBITDA PAR: […]

NI Executive reveals phased lockdown exit plan

Ministers for Northern Ireland’s devolved government have announced phased plans to take the country out of its current lockdown restrictions. Yesterday (2 March), the Executive agreed on a final version of the ‘Pathway to Recovery’ strategy, which will focus on reopening key areas of the economy, such as retail and hospitality businesses, in a phased […]

Welsh Gov grants £30m for hospitality, leisure, and tourism

The Welsh Government has announced a £30m support package for hospitality, leisure, and tourism businesses impacted by the ongoing Covid-19 measures. The funding is aimed at businesses employing ten staff or over, recognising the higher level of operating costs that they face. Ken Skates, minister for the economy, transport and North Wales, said that £1.9bn […]

Amayo properties acquires The Richmond Hotel

The Richmond Hotel, a closed hotel located in Torquay,  has been sold off a guide price of £950,000 to Amayo properties. The property comprises 48 en-suite letting bedrooms, with many of the south west facing bedrooms offering a sea view across Torbay and the English Channel. Other facilities include an indoor swimming pool, a bar […]

Sunak to extend furlough scheme until September

Chancellor Rishi Sunak is expected to extend the furlough scheme until September as part of his March Budget which will be announced today (3 March).  According to The Times, Sunak will state that the country is in a “moment of crisis” as he extends furlough for another five months, taking the support beyond the date that England is predicted […]

Hospitality sector urges gov to protect apprenticeship funding 

Hospitality industry leaders are calling on the government to “throw a protective ring” around apprenticeships funding and youth employment in the sector, in order to make the training and development of the future hospitality workforce a “cornerstone of the recovery”. Leaders from a cross-section of the industry, including charities, trade bodies, training companies, chefs, and […]

Budget 2021: Chancellor unveils new £65bn support package

Chancellor Rishi Sunak has outlined a new £65bn support package in his March budget, confirming the decision to extend the furlough scheme until the end of September as well as new loan schemes of up to £10m for businesses. In what is Sunak’s second budget since he joined office in 2020, the chancellor said that […]

At year-end 2020, the Middle East Construction Pipeline stands at 542 projects/156,921 rooms

According to the latest published Construction Pipeline Trend Report for the Middle East from Lodging Econometrics (LE), the hotel construction pipeline in the Middle East declined again to 542 projects/156,921 rooms. This is the sixth consecutive quarter project counts have dropped in the region. Fluctuations in oil and gas prices, access to vaccines, the new […]