Decline & Recovery for UK Hotel Sector Impacting The PTC Sector

According to a report published on the Boutique Hotelier website recently, the PwC’s UK Hotels Forecast 2020-2021 has found that trading performance is expected to decline ‘significantly’ in 2021. However, the hospitality sector is forecasted to recover from COVID based on the assumption that there will be a vaccine by next summer.

A predicted slow recovery in corporate travel, meetings and events looks particularly depressing for London’s hospitality industry – with the inevitable effect for textile care businesses – where the overall revenue per available room is forecasted to fall significantly in 2020 to £28.72, £100 less than in 2019. Betting on a vaccine becoming available next year, overall revenues are expected to recover to £64.81 in 2021, but the suggestion is that occupancy, ADR and RevPAR will not return to 2019 levels until at least 2023.

The UK hotel sector could take four years to return to pre-pandemic levels, with hotel occupancy rates in 2021 set to remain flat at 55% across the country, new research has found.