Hotel insolvencies have fallen by 18% in the past year, from 98 closed hotels to 80, reflecting a rise in tourism caused by the weak pound. The number of overseas visitors to the UK rose by 9% in the first half of this year to 2.5 million. But there are signs that some hotel operators may be struggling as they try to cope with rising costs and falling profits.
Hotel insolvencies have fallen by 18% in the past year, from 98 closed hotels to 80, reflecting a rise in tourism caused by the weak pound. The number of overseas visitors to the UK rose by 9% in the first half of this year to 2.5 million. Not only has the lower value of the currency drawn custom from overseas, but it has also caused British nationals to holiday at home.