The United Kingdom’s hotel sector will show a noticeable surge in transactions outside of London as hotel-ownership balance sheets are cleaned up following the tumultuous year that was 2020, according to sources.
Speaking at the 16th New Year Hotel Investment Summit organized as a webinar by hotel consultancy Whitebridge Hospitality, director Philip Camble said 2020 was the first year in history in which oil prices were negative.
He added that, according to his firm’s numbers, revenue per available room in London fell 77.2%.
