LONDON'S hotels still lead the European market despite an overall drop in occupancy of the UK’s hotel market in November last year.
A survey of 462 hotels by TRI Hospitality Consulting shows that occupancy rates in London fell by 0.5 per cent in November 2007 to 85.7 per cent.
This is against a drop of one per cent in the UK’s provincial hotels to 72.9 per cent in the same period.
These figures are in line with the overall trend for the UK market. In the first 11 months of 2007, London’s hotel occupancy rates fell by 0.1 per cent to 83.4 as opposed to a 0.2 pert cent drop to 72.2 per cent in the rest of the UK.
Despite the falling occupancy rates, London’s hotels have seen profit growth of 7.9 per cent to £82.19 per available room while there has also been an 8.9 per cent increase in average room rates to £125.85.
TRI Hospitality Consulting managing director Jonathan Langstone said: “London’s hotel market continued its outstanding run of rate, revenue per available room and profit growth in November. Average occupancy remained the highest in Europe.
“There are no signs that falling overseas spend or economic uncertainty are having an impact on the London hotel market.”
Mr Langstone added that VisitBritain had predicted a decline in the number of visitors to the UK in 2007 by 3.1per cent, with average spend down by 1.3 per cent compared with 2006.
However, the tourism board is predicting a two per cent increase in visitor numbers for 2008, while visitor spend is predicted to increase by 2.4 per cent.