UK hotels face further woes in economic downturn
Hotels in the UK face further knocks in 2009 due to the impact of the economic downturn.
A report by PKF Hotel Consultancy Services shows that UK hoteliers continued to suffer from the knock-on effect in November.
They saw further declines in room rate, occupancy and rooms yield.
And there appears to be no respite, with hotel consultancy services partner Robert Barnard saying: “As there is still no end in sight to the current economic downturn, it is unfortunately probable that hoteliers will have to endure further knocks in 2009.â€
November figures show the room rate in London down 5.6% on the same period last year from £137.29 to £129.93, while occupancy fell 6% to 79.5%.
This meant rooms yield declined by 11.1% to £103.32.
The demonstrations in Thailand, which closed many of the country’s airports, could be in part to blame for the capital’s losses, but largely the falls are due to a lack of business travellers to the city as companies across the globe look to cut costs, according to PKF.
In the regions, room rate was down 2% from £76.68 in 2007 to £75.17 while occupancy fell 5.6% to 69.3%. Overall, rooms yield was down from £56.23 to £52.06, a drop of 8%.
Barnard said: “Figures from hoteliers in the last few months have shown they are beginning to feel the inevitable squeeze from the UK, and global, economic downturns. November was unfortunately no different
“In the capital however, looking at the year to date figures, there was some growth to see as room rate is up 4.7% on the same 11 month period in 2007, while overall, rooms yield was up 3.2% on the same period.â€
by Phil Davies
Phil Davies
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