Insurance News Archive
Hotel market performance good news for commercial property insurers
The commercial property insurance market looks likely to have been given a boost by the continued expansion of the UK's hotel market during the recession.
Managing director of Soric International, Mark Blick, believes that hotel acquisition levels have performed well since the recession gripped the UK economy.
What's more, Mr Blick predicts that while levels may not reach the halcyon days of 1996/97, they do look set to continue to grow during the New Year. He pointed to evidence which shows that 106 hotels were opened in 2011 while an additional 170 hotels are expected to begin trading in 2012.
Hotel management is one of the many spheres which requires adequate insurance measures and that could be another knock-on effect of the strong market.
Mr Blick said: "The UK in general over the last few years has remained one of the most active nations in terms of hotel acquisitions.
"These trends, coupled with the high performances expected in Q3 2012 with the Olympic Games, indicate that again the UK should show year-on-year increases."
Soric International is a specialist brokerage company that offers sales and consulting services to clients with interests in the hotel industry.
Posted by Michael Brown
15 Dec 2011
