On a budget

Article Abstract:

The UK hotel industry of the late 1990s is experiencing a boom in budget or limited service accommodation. The expansion of this type of accommodation, which is posing a threat to traditional three-star properties, looks set to continue into the 21st century. The tariff is based on the room rather than on the number of occupants. Hotel facilities may include a self-service restaurant and modern conference facilities. Properties may be purpose-built, but they are often conversions of office blocks from the 1960s and 1970s. Operators may either lease or buy these properties.

Usage, Buildings and facilities, Hotels and motels, Office buildings

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Rent or buy?

Article Abstract:

Many leisure operators are forced to agree to demanding lease agreements when the property market is buoyant. Lease holders may find it difficult to surrender the lease without incurring heavy costs. Subletting a lease may be subject to restrictions on usage which could reduce the number of operators which would be permitted to take over a lease. Rents reviews may lead to high rent increases. Some leisure operators choose to buy their own property but the return on their investment will therefore take longer to realise than that of a leaseholder.

United Kingdom, Management, Contracts, Real estate, Leases, Real property

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Back to the future

Article Abstract:

Many sectors of the leisure industry experienced a slow down in organic growth during 1999, but other sectors continued to expand. The year will be best remembered as a period of consolidation and rationalization. For the coming year, technology will be one of the main influences on the industry, with the Internet playing an important part in marketing and forward bookings.

Forecasts and trends

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