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Whilst London hotels have remained resilient in the current economic climate, regional hotels have seen contrasting performances dependent upon location. Some cities have struggled to raise prices against the weak economic backdrop.
Businesses in hospitality have experienced increasing costs due to the minimum wage and tax rises, business rates and price competition on alcohol from supermarkets.
Hospitality & Hotels Sector
The UK ‘eating out` market is worth a reported £40bn per annum. Whilst consumers continue to engage with the food industry across several levels, brand power continues to hold strength at the more expensive end of the market. For example, the casual dining sector still find their target markets to be cost conscious and savvy – they pursue best value without wanting to compromise on quality.
Insuring hospitality businesses
Specialist brokers at W Denis use their expertise to negotiate and design policy cover that protects all aspects of a business within the sector, offering comfort to owners, employees and consumers.
There is stiff competition from brokers and insurers serving the hospitality sector, however the level of expertise and cover offered varies dramatically. Those hospitality businesses which choose to purchase their insurance from a specialist broker will be best protected when they come to need their insurance the most; in the event of a claim.
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