Hotel performance shows signs of slight recovery
According to PKF’s preliminary figures, hotel performance improved slightly in both the regions and London during April after a disappointing performance in February and March.
London occupancy rates fell by only 1.0%, the best relative performance since January 2001 and evidence of the gradual recovery. Outside London, occupancy was the same as in April 2001 although, to a large extent, these figures reflect the changed business pattern caused by this year’s early Easter.
Whilst the average room rate was down by 5.2% in London, PKF said it was nowhere near as bad as the double-digit downturns experienced in February and March this year. Outside London, the average room rate was up 3.4% for the first time since September 2001.
Melvin Gold, Managing Director of Hotel Consultancy Services at PKF, said: “Whilst this isn’t news to shout from the rooftops, hoteliers will be relieved to see some upturn after a disappointing few months. If you look at the March and April figures together, there is both clear evidence of the long haul back from the dark days of 11 September and reassurance that other factors, such as the early Easter, are not having an excessive impact on the resurgence”.
PKF said the volatility caused by the bank holidays in March and April is likely to continue in the next few months as they fall differently to previous years.
Preliminary Data for April 2002
|
Rooms Department |
2002 |
2001 |
% change |
|
UK Regional Hotels (559) |
|
|
|
|
Average daily room rate per occupied room |
£63.53 |
£61.43 |
3.4 |
|
Average daily room occupancy |
68.9 |
68.8 |
0.0 |
|
Average daily rooms yield per available room |
£43.75 |
£42.30 |
3.4 |
|
London Hotels (109) |
|
|
|
|
Average daily room rate per occupied room |
£103.31 |
£108.98 |
-5.2 |
|
Average daily room occupancy |
71.3 |
72.0 |
-1.0 |
|
Average daily rooms yield per available room |
£73.64 |
£78.46 |
-6.1 |
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