The UK hotel industry is the strongest in Europe, according to research by Deloitte. The HotelBenchmark Survey’s half year results show revenue per available room (revPAR) in the UK has risen by £5 to £60, a ten percent increase on the same period in 2003. London witnessed the most significant rise, with occupancy levels up by five percent on the same period last year. The average room rate in London for the first half of the year reached £105, £7 higher than last year. RevPAR reached £86 in the first half of the year, an increase of 13 percent compared with £76 in 2003.
Marvin Rust, hospitality managing partner at Deloitte says: “London’s resurgence in both leisure and corporate travel is set to continue. According to our forecasts, we expect hotel performance to exceed previous highs from London 2000/01 figures by the end of 2005. This is a realistic recovery after several years of adversity for the travel industry.”
Business travel has boosted corporate hotel rates in the first half of the year with average room rates rising £17 - a ten percent increase on 2003 figures. Regional hotel occupancy levels continue to improve, with revPAR rising to £47, an eight percent increase on 2003.