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Capital’s hotels record ‘solid start’ to 2006
London hotels had the best-performing start to the year since 2000 with daily room yield up by nearly 10%
According to figures released by PKF hotel consultancy services the room occupancy level in the capital in January rose 5.2% to 68.4%. London hotel guests had to pay an average of £100 for their room – up 4.5% on last year’s rate of £95.71.
The figures, for what is traditionally one of the quieter months of the year, pushed average daily room yield up 9.9% from £62.26 in January 2005 to £68.40.
The nationality mix was similar to 2005 with domestic visitors accounting for 34.6% of the total, Europeans for 22.8%, and visitors from the US for 18.1%.
Regional hotels also had a positive start to 2006 with room rate up a 1.3% to £64.10, occupancy up 2.3% to 58.3%, and room yield up 3.6% to £37.36.
PKF hotel consultancy services partner Robert Barnard said: “It is very encouraging that, in contrast to other economic indicators such as woeful retail sales, falling consumer confidence and rising unemployment figures, the hotel sector has had a really solid start to 2006.
“January is usually a quiet month for the capital after the Christmas rush and the New Year sales but it would appear that the strength of business tourism that powered London’s recovery in the autumn is continuing to sustain hotel performance.
“Hopefully, Visit London’s up-beat forecast for growth in overseas visitor numbers during 2006 will be accurate and London hotels can look forward to a good year.”
He added: “Hotels outside London have also started the year with year-on-year growth in all three performance indicators which, barring a significant slowdown in the UK economy in 2006, should be sustained by local programmes of cultural, sporting and business events.”
Report by Phil Davies
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