UK hotels to show best performance in a decade
London hotels remained buoyant in October while properties in the regions also saw further growth, according new figures.
The average room rate in the capital rose to £125.79, 10.7% higher than the same month last year’s figure of £113.67. Daily room occupancy was also up 7.6% on 2005 resulting in an overall increase in room yield of 19.1% to £104.51.
The figures from PKF hotel consultancy services showed that the key cities of Liverpool, Leeds, Birmingham and Manchester were not far behind London.
The regions saw an overall yield increase of 5.9% to £56.73. Both occupancy and average room rate were higher compared to the levels seen last October.
Liverpool had the highest growth in yield, up 7.7% against the same period last year, driven solely by higher average room rate as occupancy fell by 4.2%.
Leeds, Birmingham and Manchester also showed healthy growth rates in either room rate or occupancy driving rooms yield increases of 1.6%, 4.2% and 3.4%, respectively.
PKF hotel consultancy services partner Robert Barnard said: “This month’s figures are encouraging and we are confident that in 2006 the UK hotel market will see the best performance in a decade.
“Occupancy in London hotels has reached a level not seen since 1997 whilst average room rate is at record levels. Meanwhile we expect regional hotels to continue delivering steady growth rates.”
Report by Phil Davies
Phil Davies
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