The weak pound has strengthened domestic tourism
THE weakened pound has helped to attract large numbers of tourists to the UK — boosting the fortunes of hotels, according to a new report.
There has been an 18 per cent fall in the number of hotel insolvencies in the past year, from 98 to 80, according to accountancy firm Moore Stephens.
The trend coincided with an increase in the number of international visitors — up by nine per cent in the first six months of the year to 2.5 million.
More British people are also staying in this country for holidays, giving more custom to hotels.
Moore Stephens said Brexit may have had a negative effect on some UK businesses, however those in the hotel sector have benefited from the effects of the vote to leave the European Union.
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