UK hotel insolvencies hit five-year high as competition bites

Holiday accommodation hit by drop in business travel and tougher competition from rivals including Airbnb

The number of UK hotel insolvencies hit a five-year high in 2019, following a drop in business travel and tougher competition from Airbnb.

Hoteliers suffered a 60% jump in insolvencies over the year to September 2019 affecting 144 individual sites, according to figures compiled by the accountancy group UHY Hacker Young. That is up from 90 sites a year earlier.