Green shoots of recovery growing in London

18 June 2004
Green shoots of recovery growing in London

London hotels finally appear to be recovering after three years of difficult trading, according to a new report from Barclays bank.

Preliminary data for the first three months of 2004 suggested that signs of a recovery, which were first seen towards the end of last year, have continued, with visitor numbers higher than in any first quarter for more than 20 years.

Although uncertainties persist within the London hotel sector, Barclays Industry Report said improving domestic and external conditions indicated recovery would be sustained into 2005. It added that UK GDP was on track to grow by 3-3.5% this year and would be underpinned by further growth in consumer spending and a reversal in corporate downsizing, which should provide a boost to both business and leisure demand for the capital's hotels.

However, the continued threat of terrorism was still a deterrent for US visitors. Terrorism had its biggest impact on London's top-end hotels, which rely heavily on US customers.

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking