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| MS55002 |
| MSI HOTELS: UK: 2002 |
| Overview |
This report covers: hotels,accommodation, geographical analysis, occupancy rates, capex, capital expenditure, critical success factors, tourism expenditure, trips taken, hotel stock,
Companies covered include: Accor, Compass Group, Corus & Regal Hotels, De Vere Group, Friendly Hotels, Hilton Group, Jarvis Hotels, MacDonald Hotels, Millenium & Copthorne Hotels, Queens Moat Houses, Six Continents, Thistle Hotels, Whitbread,
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Executive Summary Table of Contents
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| 1 | KEY FINDINGS | 1 |
| 2 | INTRODUCTION | 3 |
| 2.1 | Definitions | 3 |
| 2.2 | Methodology | 7 |
| 2.3 | UK Economy | 7 |
| 2.3.1 | Overview | 7 |
| 2.3.2 | Interest rates | 9 |
| 2.3.3 | Inflation | 10 |
| 2.3.4 | Forecasts | 10 |
| 2.4 | Exchange Rates | 11 |
| 2.5 | Abbreviations | 11 |
| 3 | MARKET SIZE | 12 |
| 3.1 | Market Overview And Trends, 1997-2001 | 12 |
| 3.2 | Market Segmentation | 17 |
| 3.3 | Factors Affecting Demand | 20 |
| 3.4 | Market Forecasts And Trends, 2002-2006 | 24 |
| 3.4.1 | Overview | 24 |
| 3.4.2 | Forecast Market Segmentation | 27 |
| 4 | GEOGRAPHICAL ANALYSIS | 29 |
| 5 | HOTEL OCCUPANCY RATES | 31 |
| 6 | CAPITAL EXPENDITURE | 34 |
| 6.1 | Overview | |
| 6.2 | Segmentation | 36 |
| 7 | OPPORTUNITIES FOR SUPPLIERS | 39 |
| 8 | CRITICAL SUCCESS FACTORS | 45 |
| 9 | INDUSTRY STRUCTURE | 51 |
| 9.1 | Overview | 51 |
| 9.2 | Market Shares | 52 |
| 9.3 | Company Profiles | 55 |
| 9.3.1 | Accor | 55 |
| 9.3.2 | Compass Group | 59 |
| 9.3.3 | Corus & Regal hotels | 60 |
| 9.3.4 | De Vere Group (formerly The Greenalls Group) | 61 |
| 9.3.5 | Friendly Hotels | 64 |
| 9.3.6 | Hilton Group | 66 |
| 9.3.7 | Jarvis Hotels | 68 |
| 9.3.8 | Macdonald Hotels | 70 |
| 9.3.9 | Millennium & Copthorne Hotels | 72 |
| 9.3.10 | Queens Moat Houses | 74 |
| 9.3.11 | Six Continents (formerly Bass) | 75 |
| 9.3.12 | Thistle Hotels | 78 |
| 9.3.13 | Whitbread | 80 |
| 10 | MAGAZINE ADDRESSES | 84 |
| 11 | TRADE ASSOCIATION AND ORGANISATION ADDRESSES | 85 |
| 12 | TOURIST BOARD ADDRESSES | 86 |
| 13 | TRADE EXHIBITIONS | 87 |
| 1. Economic Indicators On The UK Economy, 2000-2003 | 9 |
| 2. The UK Hotel Market, 1997-2001 | 12 |
| 3. Number Of Trips Taken In The UK, 1997-2001 | 13 |
| 4. Number Of Trips Taken In The UK, By Nationality, 1997-2001 | 14 |
| 5. Tourism Expenditure In The UK, 1997-2001 | 15 |
| 6. Tourism Expenditure In The UK, By Nationality, 1997-2001 | 15 |
| 7. UK Hotel Accommodation, By Number Of Hotels And Bedrooms, 1997-2001 | 17 |
| 8. UK Hotel Accommodation, By Type, 2001 | 18 |
| 9. Forecast UK Hotel Market, 2002-2006 | 24 |
| 10. Forecast Additional Tourism Expenditure, By Category, 2002 | 25 |
| 11. Forecast UK Hotel Accommodation, By Number Of Hotels And Bedrooms, 2002-2006 | 26 |
| 12. Forecast UK Hotel Accommodation, By Type, 2002-2006 | 27 |
| 13. UK Hotel Stock, By Country, 2001 | 29 |
| 14. Average Occupancy Rates Of Hotels In The UK, By Country, 1997-2001 | 31 |
| 15. The Key Tourism Markets Of Northern Ireland, By Country Of Origin, 2000 | 33 |
| 16. Capital Expenditure By Hotels In The UK, 1997-2001 | 34 |
| 17. UK Capital Expenditure By Hotels In The UK, By Type Of Hotel, 1997-2001 | 36 |
| 18. Capital Expenditure By Selected Hotel Groups, 2000 And 2001 | 38 |
| 19. Hotel Stock Of Selected Hotel Companies In The UK | 53 |
| 20. UK Supply Of Budget Hotels, By Brand, 2001 | 54 |
| 21. Financial Summary Of Accor, 1998-2000 | 55 |
| 22. Turnover Of Accor, By Activity, 1998-2000 | 56 |
| 23. Hotel Portfolio Of Accor, By Geographical Region, 2000 | 57 |
| 24. Hotel Portfolio Of Accor, By Brand, 2000 | 58 |
| 25. Financial Summary Of Compass Group, 1997-2001 | 60 |
| 26. Financial Summary Of Corus & Regal Hotels, 1996-2000 | 61 |
| 27. Financial Summary Of De Vere Group, 1997-2001 | 62 |
| 28. Financial Summary Of De Vere Group, By Business, 2000 And 2001 | 63 |
| 29. Financial Summary Of Friendly Hotels, 1997-2000 | 65 |
| 30. Financial Summary Of Friendly Hotels, By Geographical Region, | |
| 1999 And 2000 | 65 |
| 31. Financial Summary Of Hilton Group, 1997-2001 | 66 |
| 32. Financial Summary Of Hilton Group, By Region, 2000 And 2001 | 67 |
| 33. Financial Summary Of Jarvis Hotels, 1997-2001 | 68 |
| 34. Financial Summary Of Macdonald Hotels, 1997-2001 | 71 |
| 35. Financial Summary Of Millennium & Copthorne Hotels, 1997-2000 | 72 |
| 36. Financial Summary Of Millennium & Copthorne Hotels, By Region, | |
| 1999 And 2000 | 73 |
| 37. Financial Summary Of Queens Moat Houses, 1997-2001 | 74 |
| 38. Financial Summary Of Six Continents, 1997-2001 | 76 |
| 39. Financial Summary Of Six Continents, By Division, 2000 And 2001 | 77 |
| 40. Financial Summary Of Thistle Hotels, 1997-2001 | 78 |
| 41. Turnover Of Thistle Hotels, By Geographical Region, 2000 And 2001 | 79 |
| 42. Financial Summary Of Whitbread, 1997-2001 | 81 |
| 43. Financial Summary Of Whitbread, By Division, 2000 And 2001 | 82 |
| LIST OF DIAGRAMS | |
| 1. The UK Hotel Market, 1997-2006 | 2 |
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KEY FINDINGS
The value of the UK hotel market having gradually increased during the review period, decreased by 2 percent in 2001 to a value of £10.7 million (€17.2 million). This decrease in the market value is believed to be due to the slowdown in the global economy, compounded by the negative effects of the foot and mouth outbreak and terrorist activity in September 2001. ·
The number of hotels in the UK rose by 1 percent to 22 400 in 2001. In addition the number of hotel rooms in the UK is estimated to have increased by 3 percent to reach a total of 1 005 000. ·
In 2001 independent hotels accounted for the largest proportion of total UK hotel stock, representing some 70 percent of the total volume. However, MSI believe that the market share of independent hotels has declined due to increased competition from larger chains and consortia which is forcing smaller independents out of the UK market, including: ·
MSI has identified a number of factors that have an influence on the UK hotel market, including:
· MSI forecast that the value of the UK hotel market will increase in 2002 following recovery from the negative effects caused by unexpected events in 2001. Furthermore, since the terrorist activity in the US in September 2001, the US economy is showing signs of improvement, which should result in more US visitors to the UK in 2002. MSI forecast that the rate of growth in the market value will peak at 4 percent in 2004 and 2005. ·
The number of budget hotels in the UK is forecast to increase, accounting for the forecast 2 percent increase in hotel stock in 2002 and 2003. It is believed that hotel chains are less likely to build new hotels and, will instead, acquire existing hotels from rival companies and independent businesses. MSI believe that hotel chains will focus more on extending room numbers in hotels at popular locations.
DIAGRAM 1: THE UK HOTEL MARKET, 1997-2006
| Unit: | £ billion |
| Note: | *= forecasts at 2001 prices |
| Source: | MSI analysis of ONS data, trade and MSI estimates and forecasts |
Capital expenditure increased at a slower rate of growth in 2001 compared with 2000. MSI believe that this slowdown was due to signs of an economic downturn. Indeed, due to the downturn in the global economy in 2001, compounded by the negative affects of the foot and mouth outbreak and September 11th terrorist activity on the UK hotel industry, many hoteliers are taking a more cautious approach to capital expenditure in 2002.
Text © 2002MSI
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