UK hoteliers continue to feel pinch

16th December 2008, 9:53am

UK hoteliers continue to feel the squeeze as room rates, occupancy and room yields plummet due to the knock on effect of the global economic crisis, reported PKF Hotel Consultancy Services.

In London, room rate was down 5.6% on the same period last year from £137.29 to £129.93, while occupancy fell 6.0% to 79.5%. These figures meant rooms yield saw a decline of 11.1% to £103.32.

In the regions, the picture was not much brighter. Room rate was down 2.0% from £76.68 in 2007 to £75.17 this year while occupancy fell 5.6% to 69.3%. Overall, rooms yield was down from £56.23 in 2007 to £52.06 in 2008, a drop of 8.0%.

Robert Barnard, partner at PKF, commented: "Figures from hoteliers in the last few months have shown they are beginning to feel the inevitable squeeze from the UK, and global, economic downturns. November was unfortunately no different.

"In the capital however, looking at the year to date figures, there was some growth to see as room rate is up 4.7% on the same 11 month period in 2007, while overall, rooms yield was up 3.2% on the same period.

"As there is still no end in sight to the current economic downturn however, it is unfortunately probable that hoteliers will have to endure further knocks in 2009."

Related Articles:

• 23 Jun 2011 - PKF figures report strong hotel performance in May
• 02 Mar 2011 - Increases in room rates for UK hoteliers
• 25 Aug 2010 - London hoteliers achieve strong July figures
• 21 Jun 2010 - Positive outlook for UK hoteliers in May
• 24 May 2010 - Mixed fortunes for UK hoteliers
• 26 Apr 2010 - Volcanic ash cloud puts pressure on UK hoteliers
• 01 Apr 2010 - UK hoteliers survive difficult 2009
• 22 Mar 2010 - London hoteliers achieve healthy growth
• 22 Feb 2010 - Snowfall in January affects many UK hoteliers
• 25 Jan 2010 - Hoteliers cash in on December festivities
• 26 Oct 2009 - London hoteliers continue to fill rooms
• 27 Jul 2009 - UK hoteliers experience decline in first half of the year
• 29 Jun 2009 - Occupancy increases for London hoteliers, but the regions struggle
• 28 May 2009 - Regional hotels experience fall in room rates
• 20 Apr 2009 - Further falls for UK hoteliers
• 26 Mar 2009 - Tough times predicted for UK hotel industry

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