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Hotels maintain positive trading
London hotels have continued their buoyant start to the year with an 8.5% increase in room yields in February, according to latest figures.
Hotel consultancy PKF said occupancy also climbed, from almost 73% last year to 77%, with room rates rising 2.8% to £106.87.
These both helped drive up average daily room yield from £75.55 in February 2005 to £82.23.
The growth has been fuelled by a 5.3% increase in visitors from the US, 9.1% from Japan and 4.2% from ‘other nations’. The UK and Europe still make up the bulk of visitors – 61.7% – but it is declining, the study said.
Regional hotels also performed strongly with yields up 3.2% to almost £50 and occupancy up 0.6% to 67.6%.
PKF partner Robert Barnard said: “Despite is being the coldest February for 10 years, London hoteliers had a good month, building on the cracking start to 2006.
“Room yield in the capital after just two months is now up 9.2% on last year. In the regions, hotel performance has also continued to improve with a year to date uplift in yields of 3.5%.”
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