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Holiday & Other Short-Stay Accommodation in the UK Industry Market Research Report Now Updated by IBISWorld
  • USA - English


News provided by

IBISWorld

Aug 26, 2013, 00:00 ET

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London, United Kingdom (PRWEB) August 26, 2013 -- Short-stay, self-contained and informal accommodation such as hostels and cabins has been popular in the United Kingdom for many years. The flexibility, value and at-home feel that these types of accommodation provide attracts both domestic and international holiday travellers, as well as some business travellers. Nevertheless, the Holiday & Other Short-Stay Accommodation industry's performance has fluctuated from year to year due to the after-effects of the recession and weaker domestic demand.

Room for improvement: Revenue staggers with high competition and low disposable income.

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According to IBISWorld industry analyst Steven Connell, “Industry revenue has been highly volatile during the past five years, falling sharply during 2008-09 and 2009-10 as the financial crisis and downturn caused tourists and businesses to cut back their demand for accommodation”. Industry revenue bounced back into positive territory from 2010-11 onwards due to the weaker pound and the draw of the London Olympics. In 2013-14, industry revenue is expected to contract by 2.9% to £2.2 billion as the industry suffers from a post-Olympics slump and the forecast rising pound weighs on domestic tourism. IBISWorld expects industry revenue to grow at a compound annual rate of 1.2% during the five years through 2013-14.

Conditions should gradually improve in the industry over the next five years. The recovering economy should underpin growth in domestic and international tourists. Connell adds, “The industry should also be aided by a number of major sporting events to be held in the United Kingdom during the next five years, particularly the Commonwealth Games in 2014 and the Rugby World Cup the following year”. Online travel agents (OTAs) such as Booking.com and Hostelworld.com are expected to strengthen their grip on the accommodation sector during the next five years and will continue to exert pressure on margins across the industry. In the longer term, the ageing population should help domestic tourism but is likely to reduce demand for hostels. Subsequently, industry revenue is forecast to rise over the next five years through 2018-19.

Market share concentration in the Holiday & Other Short-Stay Accommodation industry is low, since the three largest firms are estimated to account for 20.9% of total revenue in 2013-14. Many self-catering properties are in private or investor hands, with lettings outsourced to specialist letting agencies. Use of holiday cottages is very seasonal. Peak demand centres around Easter and the main holiday seasons. The industry directly competes with holiday accommodation available overseas, where the value of the British pound heavily influences consumers' holidaying decisions.

For more information on the Holiday & Other Short-Stay Accommodation industry, including latest industry trends, statistics, analysis and market share information, purchase the full report from IBISWorld, the nation’s largest publisher of industry research.

IBISWorld industry Report Key Topics

Companies in this industry provide self-contained or self-catering accommodation for short-stay visitors. This accommodation may be in a chalet, cottage, flat or cabin and is usually fully furnished. It may be part of a holiday centre or holiday village. Youth hostels, mountain refuges, guest houses, farmhouses and inns are all included.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
International Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on many UK industries. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in London, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.co.uk or call (020) 7222 9898.

Danielle Goodman, IBISWorld, +1 3108762175, [email protected]

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