London hotels see strong growth

28th May 2008, 11:45am

Hotels in London posted strong growth in average room rate and occupancy during April, according to the latest figures from PKF hotel consultancy services.

Room rate jumped from £123.55 last year to £135.94 this year – a 10.0% rise, while occupancy increased by 4.1% on April 2007. Overall rooms yield rose by 14.6% - from £97.67 last year to £111.91 this year.

UK regional hotels also performed well. Occupancy was up 8.1% from 69.1% to 74.7%, while room rate hiked by 4.8%.

Leeds and Birmingham recorded two of the largest increases in rooms yield, jumping 28.4% and 27.6%. This was a combination of solid room rate rises and occupancy increases.

Robert Barnard, partner for PKF, commented: "The robust figures for April are not a surprise. With the Easter holiday falling in March this year, it was inevitable that the figures would be slower last month with the exact contrast this month."

He added: "Nonetheless, it is hard to make a true assessment of how the UK hotel market has fared over the last two months because straight year on year comparisons cannot be made. We therefore look to May for the first true indicator of how 2008 is panning out for UK hoteliers thus far."

Weblink:

www.pkf.co.uk

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