|
Jan 24, 2006
UK hotels in both London and nearby regions ended the year on a strong note, according to figures released by PKF hotel consultancy services. Preliminary figures for December 2005 reveal that the year on year average room rate in London was up 1.9% to £102.40. Although occupancy was marginally down by 0.4% to 68.9%, rooms' yield was up 1.5% to £70.52.
More significantly, given the decline in occupancy rates in July and August following the London bombings, room rate for 2005 as a whole was up 3.4% to £104.57, while rooms yield was up 1.8% despite a 1.5% drop in occupancy.
Meanwhile, regional hotels enjoyed a strong end to the year with room rate up 2.6% to £65.13, occupancy up 0.9% to 61.5% and rooms yield up 3.5% to £40.07. This strong December performance reflected 2005 as a whole. Room rate was up 3.1% on 2004 at £66.98; occupancy up 0.4% to 71.4%; and rooms yield up 3.6% to £47.85.
"If there were ever any doubts about the innate strength and resilience of the UK hotels market, these end of year figures will dispel them. In spite of a dreadful two months for London hoteliers after 7/7, the city's boundless appeal for business and tourism alike reasserted itself by October and the December figures clearly demonstrate that London is back on top of the tree," says Robert Barnard, partner for hotel consultancy services at PKF.
|
