Hotels business surges ahead
HOTEL occupancy and rooms rates surged ahead in March despite fears that renewed terrorist activity would hit business, a study has revealed.
Data compiled by business consultancy PKF showed hotels in London and the regions enjoyed a marked improvement on the same month last year when the industry took a battering.
The figures were also showing a month by month improvement – regarded as a surprise by some observers after police admitted that a terrorist attack in the capital was almost inevitable.
“It is particularly heartening as increased concerns about terrorist attacks could have had a very negative impact on the figures,” said PKF hotel consultancy services director Robert Barnard.
London hotels saw occupancy up almost 16% on last March to 78.2% while average prices for occupied rooms increased from £92 in 2003 to £101. Room yield – the average cost per available room – soared 27% to £79.03. Last March yield was down 13% to under £60.
In the regions, which were less effected during the Iraq War, occupancy rose from 67.4% to 71.1% with rates rising 4% to £61.29. Yield was up almost 10% to £43.55.
“The hotel industry has reason to be happy with its performance during March,” said Barnard. “It will be interesting to see how the figures compare in April as hotels will have the traditionally quieter Easter period to content with.”
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