PWC analysis reveals 37% hike in travel and tourism insolvencies

PWC's latest analysis of corporate insolvency numbers shows that the travel and tourism sector suffered in the first three quarters of 2012.

Insolvencies in hotels and travel and tourism are up
Insolvencies in hotels and travel and tourism are up

Total numbers of insolvencies in the sector between January and the end of September 2012 rose to 37, from 27 during the same period the previous year.

Meanwhile, insolvencies in the hotel sector remained relatively flat compared to last year, with 137 in the first three quarters of 2012, compared to 136 over the same time last year.

However, the number of insolvencies has seen an improvement between quarters two and three this year, with a 43% fall in hotels, and a 40% drop in travel and tourism.

PWC business recovery partner and hospitality specialist David Chubb said: "Most of the businesses will be looking for an uplift in performance over the Christmas period and therefore I would expect a further drop in insolvencies in the next quarter."

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
7 lessons for event planners from... the John Lewis Christmas ad

7 lessons for event planners from... the John Lewis Christmas ad

Everyone's nightmare is a fire-breathing dragon near a highly flammable Christmas tree, isn't it?

Biggest food and drink trends of 2020 revealed by hotel group

Biggest food and drink trends of 2020 revealed by hotel group

Black pepper ice cream, fermented foods and Levantine cuisine are among the culinary treats predicted to be popular.

What are Generation Z's top travel destinations?

What are Generation Z's top travel destinations?

In-depth analysis unearths the future of travel in a global survey of 10,000 young people in the US, UK, Europe and China.

Case study: Nickelodeon Kids' Choice Awards

Case study: Nickelodeon Kids' Choice Awards

Pop star Jason Derulo hosted the televised award ceremony at Abu Dhabi National Exhibition Centre.

Influx of association conferences for ACC Liverpool

Influx of association conferences for ACC Liverpool

Venue is set to host three major association conferences for the first time, while confirming return of several others.

3 simple ways to disrupt events

3 simple ways to disrupt events

Many planners mistakenly over-complicate their events, according to Scott Stratten, co-author of UnMarketing.

Answer our corporate event planner survey and win a luxury hotel stay

Answer our corporate event planner survey and win a luxury hotel stay

Complete our quick 10-minute survey to win a stay for two with Iconic Luxury Hotels and inform our State of the Industry report.

Profit and turnover up for Freeman EMEA

Profit and turnover up for Freeman EMEA

Most recent financial year included acquisition of Comotion Consulting and a new managing director for the event agency.

8 things to look out for at IBTM World

8 things to look out for at IBTM World

With the countdown on, what brand new features and events can attendees expect when they descend on Barcelona next week?

'I could have screamed' - the ongoing war against events waste

'I could have screamed' - the ongoing war against events waste

Putting the environment first doesn't have to cost more, says Karen Sutton, CEO and founder of the Global Good Awards.

LATEST JOBS