New research released today from travel wholesaler Tourico Holidays shows that it is anticipating a significant boost in bookings thanks to Brexit for the rest of the year, in addition to the almost 250,000 UK room nights it has sold so far this year, including a 12 per cent year-on-year boost from the United States.
This is thanks to the referendum’s prompting of a weak pound and a subsequent good exchange rate into Sterling for overseas currencies, the data suggests.
While Tourico Holidays states that its bookings from China and Germany account for just four and six per cent of inbound business respectively, both have reportedly increased their average daily reservations by over 100 per cent since the Brexit vote.
Bookings to ‘secondary markets’, such as Manchester, have also increased by a significant 60 per cent, with business coming not just from inbound visitors, but also UK visitors who would like to take a break without exchanging currency on the currently weak rate.
The figures come soon after industry predictions that the hotel industry would be one of the first to benefit from Brexit.
Mark Redmond, vice president of the European Region for Tourico Holidays, said: “Early booking trends since Brexit show a falling Pound is actually strengthening the UK travel market. Not only will international travellers see it as an opportunity to finally book a trip to what was formerly considered a high-priced destination, we anticipate British travellers will also travel more within the UK.”
The company currently has partnerships with over 1,000 UK hotels, including Park Plaza Hotels, Corus Hotel Hyde Park London, and Hilton Hotel Group – including Double Tree hotels and the Conrad St. James.