May 18th 2015 | A Review of HOSPACE 2014
The hospitality sector is moving into a year of growth, in which it has been advised to plough the spoils into technology
This year’s HOSPACE conference saw operators told to “think big but do small” when it came to in-vesting in technology, in particular in Big Data.
The event heard that, despite recent concerns around economies in the Eurozone, in particular Germany, the sector was heading upwards into 2015. Liz Hall, head of hospitality & leisure research, PwC, said that ADR in London was almost back to 2007 levels and was expected to rise by 3.6% next year. Outside London, rate was forecast to rise by 4.3%, driven by a resurgence in corporate spending, although pointed out that provincial ADR was 20% below 2007 in real terms.
Hall said: “The global recovery now appears less robust than it did earlier in the year, but far from uniformly gloomy.” She pointed to the 2015 Rugby World Cup - third-largest sporting tournament globally - being hosted in the UK as “good news for hotels”. There were some notes of caution, with disruption expected by the likes of Airbnb and some fears that increased supply of hotels waiting to come online was “a sleeping giant about to awake”, but the message was a positive one.