The hotel rates in Britain have dropped for the first time since 2004, according to new research conducted by Hotels.com. Figures from the Hotel Price Index show that Britain was the only key country in Europe where the average price for a hotel room significantly dropped, while hoteliers battle to fill vacant rooms amid [...]

Legacy Hotels & Resorts International confirmed their interest in a takeover of a number of Folio Hotels properties, following the collapse of the group into administration. Folio Hotels, which is based in the United Kingdom and was set up in 2004, called in administrators due to a sharp drop in trading, blaming a costly [...]

London hotels need to be ready to ride the economic roller coaster as they will be facing the worst environment in 15 years reported PricewaterhouseCoopers LLP. They also predict that revenue per available room (RevPAR) may fall by nearly 12% during next year as occupancy levels tumble. The cuts in business travel budgets, [...]

The Le Méridien Piccadilly in London is going to be sold with about a £90 million estimated price tag as part of the assets sell-off of the Lehman Brothers. Starman Hotels, which is a hotel investment venture of Starwood Capital and Lehman, has given the task of selling the 5-star Le Méridien hotel to [...]