Covid-hit UK hotels unlikely to recover for four years, says PwC
- Date: 27-Oct-2020
- Source: The Guardian
- Sector:Economy
- Country:uae-top-picks
Covid-hit UK hotels unlikely to recover for four years, says PwC
PwC says London hotels will be particularly hard hit as they rely on international travel and corporate customers.
Photograph: Getty
The UK hotel industry could take four years to return to 2019 levels of business, even if an effective vaccine helps the sector to recover from the deep financial hit caused by Covid 19.
The daily revenue per hotel room - a key indicator for the sector - is not expected to revive to 2019 levels until 2024 in London, and 2023 across the rest of the UK, according to forecasts published on Tuesday by the accounting firm PricewaterhouseCoopers (PwC).
Renewed lockdowns, the decline in foreign tourist numbers and the near disappearance of business travel have left hotels struggling to attract customers, with a dramatic effect on their earnings.
The fall in corporate demand as
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