The way ahead

So, after two-and-a-half years of the UK’s political system – and by extension the country as a whole – feeling like it has been wading through treacle, there is at last some clear ground ahead, although there is still much division over whether it is heading in the right direction.

What is clear is that the Parliamentary paralysis of recent times will come swiftly to an end and Boris Johnson can use his historic majority to implement his policies unhindered and as he puts it, “get Brexit done”.

This is obviously going to have major implications for the serviced apartment sector and the wider travel and hospitality space, touching on issues including freedom of movement, staff recruitment and retention, the country’s image abroad, the exchange rate and much more. For more industry reaction click here.

But the stalemate has been broken, the log jam is starting to move and businesses which have been in limbo for years are looking at their spending plans again. The markets responded in stunning fashion this morning. The City of London is on course to have its busiest trading day of the year today. More than 800 million shares have already changed hands across the FTSE 100 in the first two hours of trading – more than the volume for an average day, while the FTSE 250 index, which contains medium-sized UK-focused companies, was up more than 1,000 points this morning to 21,910, an all-time high.

All this is good news for serviced apartment companies who cater to corporate travellers and the industry must grasp the opportunity presented to it.