Featuredfinancehotelowner.co.uk··1 min·For: Owner, GM, Investor
Nearly 700 UK Hotel Operators Collapse Over Five Years
A total of 692 UK hotel businesses fell into insolvency over the past five years amid surging operating costs and labor pressures, according to UHY Hacker Young. Industry leaders warn that a proposed tourism tax slated for 2028 could deepen financial distress regardless of hotel profitability.
Key Takeaways
- 1UHY Hacker Young reported 692 UK hotel insolvencies in five years, with 139 in the past 12 months alone.
- 2Rising National Insurance, minimum wage hikes, and soaring energy bills are driving the financial strain.
- 3Hoteliers strongly oppose a planned 2028 tourism tax, warning it penalizes non-profitable properties and domestic travelers.
Source: hotelowner.co.uk
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