London hoteliers achieve healthy growth

22nd March 2010, 12:19pm

London hoteliers achieved healthy growth in February, according to preliminary monthly figures released today by PKF Hotel Consultancy Services.

In the capital, room rate was up 2.7% on the same period last year from £104.23 to £107.01. Occupancy increased by 6.4% from 73.8% in 2009 to 78.6% in 2010. The combination meant rooms yield increased 9.2% from 76.97% to 84.08%.

Meanwhile in the regions, room rate still suffered as hoteliers reduced rates in a continued attempt to draw in visitors. Room rate was down 6.6% from £63.24 to £59.07, but occupancy increased by a healthy 4.0% to 65.2%. Overall, rooms yield was down 2.8% from £39.61 in 2009 to £38.49 in 2010.

In Edinburgh, room rate was down, but only by 1.1% to £76.33. Occupancy was up 5.2% from 66.8% to 70.3% and rooms yield therefore increased 4.0% to 53.67%, compared to 51.59% last February.

Robert Barnard, partner for Hotel Consultancy Services at PKF, commented: "2010 is going to be a year of recovery rather than growth for the hotel industry across the UK.
 
"Due to its global presence, London is an exception and positive figures for the capital suggest it has already bounced back. Hoteliers are already experiencing growth and I expect this to continue steadily over the year." 

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