UK hotel rooms endangered

In a presentation hosted by Baroness Ros Altmann at the House of Lords, Thomas Magnuson, CEO, Magnuson Hotels, outlined the rapid decline in the number of UK hotels owned by independent private businesses.

Magnuson, founded in 2008, calls itself the world’s first independent hotel chain with over 1,000 participants in the US, Europe and the UK.

Magnuson said that in 2010, UK independent hoteliers represented 78% of the UK hotel industry but that globalism had reduced the true British share to 50% in 2022.  His view is that at today’s change rate this will fall to 22% by 2026.

In Magnuson’s presentation to the Travel Technology Initiative Organisation, he says that even though the UK hospitality industry is the second largest job creator in the UK and contributes over £100bn per year to the UK economy, it is overlooked that 72% of UK hotels have 50 rooms or less.

“Not all hotels are the Savoy”, Magnuson said. “Most hotels in the UK are small, family owned. And endangered”.

Citing Newquay as an example, Magnuson reported that in just the last ten years, 40% of Newquay independent hotels have closed. He adds that the power and scale of publicly traded global brands, with platforms and marketing budgets are hard to compete with.

Magnuson said that Airbnb, founded in 2008, already represents listings equalling 88% of the total UK hotel room supply. By 2026, it is estimated that Airbnb supply will be greater than the total UK hotel room inventory.

His solution for the UK is simple. A nationwide hostelry business registration process to include all UK hotels; chains, UK independent hotels as well as Airbnb listings.  

www.magnusonhotels.com

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