After January’s record-breaking start to the year, London hoteliers continue to stave off the winter chills with a heart-warming 8.5% increase in rooms yield in February, according to preliminary figures released by PKF hotel consultancy services.
Average daily room occupancy rose by 5.6% in London - up from 72.8% in 2005
to 76.9% - and room rate rose 2.8% to £106.87. These both helped to drive
up average daily rooms yield from £75.77 in 2005 to £82.23.
Although the majority (61.7%) of hotel visitors were from the UK and
Europe, numbers have declined over the year in percentage terms while the
percentage of visitors from the USA, Japan and other nations is increasing
(up 5.3%, 9.1% and 4.2% respectively).
Regional hotels also continued their positive start to the year with room
rate up 2.6% to £69.45, occupancy up 0.6% to 67.6%, and rooms yield up 3.2%
Robert Barnard, partner for hotel consultancy services at PKF, said:
“Despite it being the coldest February for ten years, London hoteliers had
a good month building on the cracking start to 2006. Rooms yield in the
capital after just two months is now 9.2% up on last year.
“In the regions, hotel performance has also continued to improve with a
year to date uplift in rooms yield of 3.5%. This is a very encouraging
start to the year and should sustain regional hotels until the traditional
Easter holiday period and local Spring events programmes get underway.”