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London hoteliers divided over impact of 2012 Olympics

By Luke Nicholls , 05-Mar-2012

Related topics: Business, People, Trends & Reports, Olympics, Hotels

Less than a third (29.8 per cent) of London hotel managers believe the 2012 Olympics will influence the growth of their business this year.

Just how much of an impact will the 2012 Olympics have on the nation’s hotels?

Just how much of an impact will the 2012 Olympics have on the nation’s hotels?

The results of the latest Hotel Confidence Monitor by HotStats follows BigHospitality’s report earlier this year which revealed mixed views over the impact of the Games on the hotel sector.

However, according to the Confidence Monitor, more than half of UK hoteliers are more optimistic of their business in the first quarter of 2012 than the last quarter of 2011.

“It is surprising that less than a third of London hoteliers cited the Olympics as the most important factor influencing performance,” said Mark Dickens, managing director of HotStats.

“This research further highlights the disparity regarding expectations as to what extent the Olympic Games will drive demand for hotel accommodation in the capital.”

Last year, Jonathan Ragget, managing director of Red Carnation hotels, told BigHospitality that 'anyone who thinks London hotels will be full for the London 2012 Olympics are kidding themselves’.

Other findings

HotStats' Confidence Monitor also discovered that London room occupancy expectations for Q1 2012 remained positive, with 70.2 per cent of London general managers expecting an increase or no change compared to Q1 2011. In the Provinces, 43.1 per cent of general managers are expecting an improved occupancy performance.

For the provinces, 32.5 per cent of managers believe that economic growth will be the primary factor influencing the growth of their business. Revenue management was cited by 20.3 per cent of Provincial hoteliers and 25.5 per cent of those in the capital.

The survey also discovered that the majority of London and Provincial general managers intend to maintain or increase their Q1 2012 budget as compared to Q1 2011.

In terms of staffing, 80.9 per cent of London hoteliers expect to maintain their current levels and 10.6 per cent expect to decrease the staffing levels during the next three months.

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