New research conducted by leading global property adviser Knight Frank has revealed that post the COVID-19 pandemic, the UK hotel market will rebound strongly once the economy revives and travel restrictions are lifted. Q4 is expected to see a surge in investment volumes with a full market recovery possible in London by Q2 2021 if the market reopens by the end of June 2020.
Knight Frank’s research analyses the speed at which the UK hotel market has recovered following major events in the past, such as the economic downturns in 2001 and 2009, SARS and Brexit. These findings provide some hope for a reasonably swift return to growth figures, despite there still being many unknowns ahead.
However, whilst the UK hotel markets with a strong international appeal, like London and Edinburgh, are likely to recover faster, the current crisis is set to have a more lasting impact on the regional UK hotel market.