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Improved consumer sentiment, rising employment and growth in real earnings points to brightening oulook.

The UK’s hotel and leisure industries have benefited from improved consumer sentiment, coupled with rising employment and emerging growth in real earnings. Domestic consumer demand is still improving, with inflation falling in recent months, strengthening employment and real average earnings growth over the last year. 

A loosening of consumers’ purse strings in response to the brightening outlook should lift leisure operators’ revenues during 2016 and will encourage developments ready to exploit a further strengthening in spending in the years ahead. 

After a 20% increase in starts during 2014, the sector entered a period of consolidation last year, starts edging just 2% higher. Near term weakening in project starts during the first half of 2016 is expected to dampen starts which we have projected will fall by 15% for the year as a whole.

Nevertheless, the medium term prospects are positive. A modest 6% increase in the value of planning approvals in the 12 months to February 2016 points to a brightening outlook for the sector. In addition the sector is already benefiting from several high profile major developments such as Tottenham FC’s £400 million redevelopment of White Hart Lane – search for project 07485469 for more details.  

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