Brexit will hit the hotel business London


Moscow. September 22. INTERFAX.RU to Find a hotel room in the British capital in 2017 will be easier because international firms will be less likely to send employees on business trips to London amid fears of slowdown in the economy of the country after the decision to leave the EU (Brexit), analysts PricewaterhouseCoopers (PwC).

According to experts, the occupancy rate of hotel rooms in London in the following year will be reduced by 1% to its lowest in nine years 80%. The yield per room (revenue per available room, RevPAR, the main criterion of profitability in the hotel business) will shrink by 2.8% this year and 0.5% next.

In addition, the situation adversely affected the growth of supply in the market. PwC analysts expect that in 2017, the British capital will be in operation about 7.2 thousand new rooms, plus the hotel suffered from competition with the popular service Airbnb allows you to rent housing from private persons.

Hotels in European capitals, including London, are already experiencing difficult times, as the number of tourists in Europe suffered because of the terrorist attacks in France and Belgium.

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