October results for the UK market show RevPAR at 12.6% with occupancy having risen by 4.4% to reach 81.2% and ARR at GBP100.24, according to The Bench.This shows a 7.8% growth compared to the same month last year. The October performance is very similar to that of September and slightly above year to date figures.
UK Regional results show similar pattern, with a 3.7% growth in ARR and 2.1% rise in Occupancy, RevPAR improved by 6%, just ahead of the year to date figure of 5.4%. London continues to be the driving force behind the UK results and with ARR at GBP133.50, the 3rd highest rate achieved so far this year. (UK R. = UK Regional - all UK excluding London.)
James Chappell, Managing Director of The Bench said, “As we review year on year change for the UK markets, London continues to lead with a growth of 18.1% followed by Aberdeen at 13.3% and Liverpool at 9.2%. The remainder of the UK cities are achieving an average year on year growth, in terms of RevPAR, ranging between 6.5% and 8.5% with the exception of Manchester, Gatwick and Bristol with performance improving by a mere 3%. Leeds is also falling behind with performance remaining at levels similar to last year (0.9%).”