Cambridge has become the most attractive UK city for hotel investment in 2021, according to new research from Deloitte, followed by Oxford and Edinburgh.
Consultancy Deloitte has today released ‘A Restoration in Loyalty’, an inaugural survey that provides insights into consumer travel behaviour and loyalty program satisfaction. The survey reported a steep decline in consumer loyalty to travel brands.
The growth observed in January was confirmed in February. Business destinations, particularly in regional France, benefitted from the staggering of winter school holidays, unlike in 2010.
A survey of 4,000 consumers from the UK, Germany, Italy and Spain and has shown how purse strings have remained firmly tightened when it comes to leisure and business travel in 2010, following the market challenges experienced in 2009.
The Australian hotel industry has rebounded strongly from the global financial crisis having recorded one of the highest percentages of occupancy globally and one of the largest percentage increases in revenue per available room (revPAR) for the year to May 2010, according to Deloitte.
London hotels appear to have finally come out of their downward spiral last month to post positive rates and occupancy levels. Occupancy averaged 85.8% and room rates £138.
UK hotels suffered another bad month of falling rates, yields and occupancy in August. In London, room rate was down 7% year-on-year to £102. Occupancy fell by 2.3% to 81.8% and yield fell by 9.2% to £83, according to a report by hotel consultancy services PKF. However, a separate report by Deloitte predicts that there will be a slowdown in the rate of decline with a pick up in the last three months of next year.
The hotel market hall of fame…For the second year in a row, Venice was the best performing market in 2004 in terms of revenue per available room (revPAR) according to the HotelBenchmark Global Ranking Index (GRI). The GRI compares the performance of 165 global cities outside North America on an annual basis.