UK hotels ‘still holding their own’ against recession
UK hotels suffered a slow month in October but the industry is still ‘holding its own’.
Room rates in London rose 0.1% on last year to £147.45, but the slowdown in business travel meant occupancy saw a 3.2% decline from 86.5% to 83.8%.
Overall, this meant room yield was down 3.1% from £127.58 last year to £123.61 this year.
In the regions, occupancy was down 5.8% on 2007 from 77.2% to 72.7%.
Room rate also fell 1.5% to £76.19 which meant rooms yield was therefore down 7.6% on 2007, from £59.70 to £55.42.
Room rate increased in some cities and both Liverpool and Leeds bucked the downward trend.
Robert Barnard, partner for Hotel Consultancy Services at PKF Hotel Consultancy Services which conducted the study, said: “The continued global economic woes mean that the lack of growth experienced by many hoteliers in October, were to be expected.
“It is important to note that the falls overall were fairly moderate and the industry, while feeling the effects, is still holding its own.
“Occupancy in the capital is still at 83.8%, while in the UK as a whole, the hotels in our survey are at 72.7% of their capacity.â€
by Phil Davies
Phil Davies
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