London hoteliers lead the way

2nd November 2009, 8:48am

London hoteliers have experienced an increase in monthly Revenue per Available Room (RevPAR) for the first time since August 2008, according to the latest HotStats survey by industry experts TRI Hospitality Consulting.

Meanwhile, hotels in Budapest, Munich and Prague continued to suffer major declines in RevPAR performance.

Despite a 3.9% drop in average room rate in London, RevPAR for the month of September finished 0.5% above the same period in 2008 due to a 3.9 percentage point increase in occupancy levels.

Furthermore, profit per available room (GOP PAR) in the UK capital grew by 3.3% in the month of September 2009, to £94.39. This was made possible by a decrease in the level of payroll as a percentage of total revenue, down to 22.4% from 24.7% in September 2008.

Jonathan Langston, managing director, TRI Hospitality Consulting, said: "Following a summer of fluctuating price and volume, it was back to business for London hoteliers in September. Twelve months on from the collapse of Lehman Brothers and the immediate impact of the banking crisis, London hoteliers are growing profits."

Of the 10 cities surveyed, Paris witnessed the largest margin of growth in occupancy levels in September 2009, of 6.6 percentage points, to 79.8%. However, with a 17.1% decrease in 2009, this is the third consecutive September in which average room rate has declined in the French capital, down to €160.50.

Related Articles:

• 25 Feb 2010 - The bad weather impacted profits at UK hotels far more than London, says TRI
• 24 Feb 2010 - TRI Hospitality Consulting named hotel industry's preferred advisor of the year
• 04 Feb 2010 - Confidence amongst hoteliers suffer a slight setback, says TRI
• 28 Jan 2010 - London hotels enjoy strong double digit boost to profitability during December
• 05 Jan 2010 - Occupancy and average room rates soar at London hotels
• 26 Nov 2009 - The London hotel market records second highest occupancy performance in 2009
• 11 Nov 2009 - Confidence amongst UK hotel general managers at a high
• 03 Nov 2009 - 'Staycation' trend set to continue throughout 2010 giving tourism a boost
• 28 Oct 2009 - London hoteliers boost profits
• 01 Oct 2009 - European hotels experience a weak August
• 26 Aug 2009 - London Hotel occupancy exceeds 2008 levels
• 24 Aug 2009 - TRI partners with Visit London
• 18 Aug 2009 - UK hotel general managers remain positive
• 28 Jul 2009 - Occupancy levels hold up at London hotels
• 25 Jun 2009 - Recession has less impact on UK hotels
• 22 May 2009 - London occupancy stays above 80%
• 28 Apr 2009 - Lower hotel room rates keep occupancy high
• 27 Apr 2009 - UK hotel managers are more optimistic
• 24 Apr 2009 - UK hotels experience heavy falls in profit
• 30 Mar 2009 - Mixed performance across key city hotel markets
• 25 Mar 2009 - Profit down by 17% at London hotels
• 03 Mar 2009 - Hotel's revenue and profit continues to fall
• 25 Feb 2009 - Hotel profits fall by almost one third

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