According to the Business Outlook, which was released last week, the hospitality industry benefitted from economic improvement in 2013, with an increase in buyer demand often causing businesses to be sold for above their initial asking price.
But what big trends and developments can we expect to see over the next 12 months? BigHospitality took a trip to Christie & Co's offices in the City to find out. On hand to give their expert opinion were the property agent's head of restaurants Simon Chaplin, head of pubs Neil Morgan and head of hotels Jeremy Hill (interview conducted on the phone).
For restaurants, Chaplin says that the influence of branded chains could be replicated in the UK regions this year. Morgan explains that an increasing number of pubs will be sold for ongoing use. And Hill believes hotels in London and the provinces will look to consolidate their positions in the marketplace.
But the conclusion of all three experts was very much the same - 2013 was the year that finally saw businesses emerge from the bottom of the curve, but the expectation of 'business back to normal' in 2014 needs to be tempered by the reality of the long-term recovery.
Read our full report of the Christie & Co 2014 Business Outlook here.