A budget boom for the hotel market

While once a dream night in a hotel meant impressive views, Egyptian cotton sheets, designer interiors and luxury bathroom products, Brits today are going budget. According to latest research from MINTEL, the value of the UK budget hotel market increased by 38% between 2002 and 2006, to reach £1 billion for the first time ever. This growth is three times that of the overall UK hotel market (worth £11.2 billion), which increased by just 12% over the same four year period. Today, the budget hotel market is worth £1.1 billion, with no less than 85,000 budget rooms to choose from in the UK alone. “The Brits’ desire for taking several short breaks a year, independent booking and paying for guaranteed basics has seen budget hotels surge in popularity,” comments Richard Cope, senior travel analyst at MINTEL.