The UK economy remains in an uncertain place. The continuous interest rate increases of the last year may have slowed, but there isn't clear consensus on the road ahead.

'Higher for longer' may be a common view, but that doesn't exactly bode well for procurement and cost control. Business travel costs and specifically hotel rates continue to be hard to read, the indicators we do have might provide some short-term respite, but not much.

This report includes:

• Price indicators in the last quarter of 2023.
• Price projections for workforce hotels.
• The pre-Christmas outlook for corporate and workforce hotels.