Nearly three-quarters of hotel managers are optimistic or very optimistic about their hotel’s trading performance over the next three months, reports Meetpie.
According to the latest HotStats Hotel Confidence Monitor, which quizzed hotel managers about their outlook for the industry, almost half of people are more optimistic than they were compared to the last quarter. This trend has been reflected in the previous July HotStats UK Chain Hotels Market Review, which also reported that confidence in the industry is mounting.
“Clearly confidence levels and performance expectation remain decidedly positive,” commented Mark Dickens, managing director of HotStats.
Over half of hotel managers expect room rates to increase during the third quarter, which is a 16% increase since the first quarter of the year. 70% of hotel managers believe room yield will also grow.
Nearly nine in ten hotel managers said they believe their gross operating profit will be maintained, or increase. Furthermore, 78% of people expect their staff levels will remain at the same level.
The number of high quality event venues is expected to help drive this growth, as numerous events across the country, combined with a boost in the number of business conferences, will help drive the demand for hotel rooms.
The news comes just a week after it was revealed that hotels in London have reached record-breaking levels of occupancy.