According to accountancy firm PwC, the ongoing decline in the value of sterling is expected to drive up UK hotel occupancy and room rates over the next two years with RevPAR growth predicted at 3.3% to £120 in 2017 and 2.5% to £123 in 2018. London is expected remain just behind Dublin in the league table of European city occupancy rates, followed by Amsterdam.
Outside London in 2017, RevPAR growth is predicted at 3%, the highest ever in nominal terms. Occupancy will grow minimally.
20,000 new rooms will open across the UK, up from 16,000 in 2016, a growth of 2.4% once closures are taken into consideration. Sporting events such as the ICC Cricket Champions Trophy, the World Athletics and Para-Athletic Games and the UEFA Champions League final will help occupancy in the respective cities.