Three years after David Cameron declared his strategy to reform Europe he put it to referendum and Britain has voted to leave. The Prime Minister has resigned this morning and doubtless in the days, weeks and months ahead the debate as to ‘what next’ will flourish. H&C News will follow this debate and we start with comment from John Brennan, CEO of Amaris Hospitality, one of the U.K. and Ireland’s largest hotel investment and hospitality Groups.
“We are now entering a period of uncertainly as Britain prepares the ground for exit. While the negotiation period could have an affect on the markets overall in the short-term, the hospitality sector is well-placed to remain robust during this period.
“International tourism is one of the most rapidly growing sectors of the UK economy as disposable incomes increase around the world. With sterling weakening on this news, the rest of the world will get more pounds for their currency, making the UK a cheaper destination to visit, and conversely making it expensive for Britons going abroad.
“We would, however, encourage government to provide clarity on the exit process and address the areas of uncertainty prompted by this decision as soon as possible.”
The divorce of the UK and Europe is now in motion as Martin Schulz, President of the European Parliament, meets the Conference of Presidents at around 8.30am this morning. The meeting will try to set a common position from MEPs. The precise terms of the divorce between Britain and its 27 ex counterparts will need be negotiated.
H&C News will follow the process and publish comment and opinion pieces from across our industry.
If you would like to have your say please send an email to Editor@HandCNews.com