Occupancy levels hold up at London hotels

28th July 2009, 9:09am

Occupancy levels in London hotels for June reached 84.1%, only one percentage point below last year, according to the latest HotStats survey by TRI Hospitality Consulting.

In order to drive volume, London hoteliers continued to discount room rates, which dropped by 8.8% in June compared to last year.

David Bailey, deputy managing director, TRI, said: "Whilst occupancy levels remain high, achieved average room rates have fallen further in June, partly attributable to the tough comparables of the previous highs in June in past years."

In the six months to June, average occupancy levels in London dropped by 2.7 percentage points to 77.3%, while achieved average room rates were down 7.3% at £108.39, compared to the six months a year earlier.

"During previous recessions, once we have seen occupancy flatten out, it takes a few more months before rate steadies. It is too early to say we are at the beginning of the end of the recession for hotels but I believe we can be certain that it is the end of the beginning," added Bailey.

The provinces also enjoyed a relatively strong performance in June, achieving an average occupancy of 72.5% at an average room rate of £71.41.

Related Articles:

• 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
• 02 Nov 2009 - London hoteliers lead the way
• 30 Oct 2009 - The latest issue of London Hotel Development Monitor now available
• 28 Oct 2009 - London hoteliers boost profits
• 01 Oct 2009 - European hotels experience a weak August
• 28 Sep 2009 - Holiday makers boost occupancy levels for UK hotels
• 26 Aug 2009 - London Hotel occupancy exceeds 2008 levels
• 18 Aug 2009 - UK hotel general managers remain positive
• 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
• 23 Feb 2009 - TRI Hospitality Consulting wins hotel report award
• 09 Feb 2009 - UK hotels face most challenging conditions in 17 years
• 28 Jan 2009 - 64% of hotel managers concerned for 2009
• 28 Jan 2009 - Flat profit at London hotels
• 15 Dec 2008 - TRI nominated for 2009 Hotel Report Awards
• 27 Nov 2008 - UK hotel profits fall by 9%
• 24 Oct 2008 - London hotels hit by credit crisis
• 10 Jun 2008 - UK hotels continue to rise in room rates

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