London hotels boost
HOTELS IN LONDON enjoyed a year-on-year average room rate increase of 2.7 per cent to £107.01, according to PKF Hotel Consultancy Services. Occupancy levels rose 6.4 per cent to 78.6 per cent, while room yield was up 9.2 per cent to 84.08 per cent.
Meanwhile, consultancy firm Deloitte said London hotels saw 10.1 per cent growth in revenue per available room (revPAR) to £94 in the first quarter of 2010. It said occupancy levels, which rose by 5.4 per cent to 76.2 per cent, were the "key driver" of the growth.
During the three months, average room rates in the UK capital also rose by 4.5 per cent to £123, it said. However, hotels in the regions were still in the doldrums with average room rates down 6.6 per cent to £59.07 on the previous year, said PKF. Overall room yield was down 2.8 per cent to £38.49. Edinburgh and Cardiff benefitted from the Six Nations international rugby tournament, with fixtures held in each of the two cities. Room rates in Cardiff were up 3.6 per cent on the same time last year, from £75.64 to £78.38, occupancy rose 7.3 per cent and rooms yield increased by 11.2 per cent from £52.23 to £58.07. In Edinburgh, room rates were down, but only by 1.1 per cent to £76.33. Occupancy was up 5.2 per cent from 66.8 per cent to 70.3 per cent and rooms yield increased 4 per cent to 53.67 per cent, compared to 51.59 per cent last February.