London’s hotels have ‘bounced back’ from the recession, according to new figures released today by PKF Hotel Consultancy Services.
Room rate at London hotels was up in February on the same period last year by 2.7 per cent, while occupancy grew by 6.4 per cent to 78.6 per cent. The results meant that rooms yield grew 9.2 per cent to 84.08 per cent for the month.
The results, which follow months of steady growth for hotels in the capital, has led Robert Barnard, partner for Hotel Consultancy Services at PKF, to believe London has recovered from the effects of the recession.
“2010 is going to be a year of recovery rather than growth for the hotel industry across the UK,” he said. “Due to its global presence, London is an exception and positive figures for the capital suggest it has already bounced back. Hoteliers are already experiencing growth and I expect this to continue steadily over the year.”
Preliminary data for February 2010
However, hotels in the UK’s regions continued to struggle as room rate dropped by 6.6 per cent in a bid to attract more guests. The fall meant that while occupancy increased by 4 per cent, rooms yield fell by 2.8 per cent.
Barnard predicted it would take the rest of the year for hotels in the regions to recover from the recession.
Edinburgh and Cardiff bucked the trend and saw an 11.2 per cent increase in rooms yield as a result of the Six Nations rugby fixtures.