Strong performance for UK hotels
London hotels continued to deliver a
record-breaking performance in August according to the
preliminary figures released today by PKF hotel consultancy
services while regional hotels delivered solid year on year
growth.
Average daily rates in the capital were the best since 2000
at £100.92, an increase of 8.1% on 2005. Room occupancy was
up 26.9% on 2005 at 83.5% although it should be remembered
that London hotels saw significant cancellations in bookings
in August last year after the second July terrorist alert.
However, the 37.2% increase in daily rooms yield to £84.22,
the highest figure recorded since the Millennium, indicates
that the London hotel market is enjoying one of its best ever
years.
Regional hoteliers as a whole continued to enjoy solid growth
in August with average room rate up 3.2% to £66.17,
occupancy up 1.6% to 75.3%, and daily rooms yield up 4.9% to
£49.85 but performance varied considerably from city to city.
While major business-hub cities such as Birmingham,
Manchester and Leeds suffered the traditional seasonal dip as
business visitors took their summer holidays, leisure and
culture destinations such as Cardiff and Edinburgh had a good
month. For example, Edinburgh hotels were 90.4% full with
Festival visitors and both room rate and rooms yield figures
outshone London’s at £109.26 and £98.81 respectively.
ADVERTISEMENT
Robert Barnard, partner for hotel consultancy services at
PKF, said: “While the August figures indicate that the UK
hotel market as a whole continues to enjoy a good year, the
continuing boom for London hotels is a welcome payback for
weathering the wars, pestilences and terrorist threats of the
last few years. The combination of London hoteliers’
resilience, resourcefulness and improving quality with
better-than-anticipated economic growth is driving up demand
in virtually every market segment.
“In the regions, August is the month where the dichotomy of
fortune between business and leisure locations is most
clearly pronounced. The continuing good weather boosted the
number of visitors to holiday destination cities and resorts
while the predominantly business destinations largely
experienced seasonal downturns. The underlying themes,
though, are still those of innate market strength and a
better product offering for the consumer.”
——-