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London hotels ‘do well’ to limit July decline
Occupancy at London hotels fell by less than five per cent in July – the month of the terrorist attacks on the capital.
Monthly figures from PKF LLP hotel consultancy services show a 4.9% drop in occupancy to 79.4% with a 1.2% rise in average room rate to £105.01, leaving room yields down 3.8% at £83.37.
Hotel outside London fared even better, with just a 0.7% fall in occupancy to 76.9%, offset by a 2.4% rise in average room rate, leading to a 1.7% increase in room yields at £50.35 over the same month last year.
PKF hotel consultancy service parnter Robert Barnard said: “Any fall in occupancy is cause for concern, but the capital’s hoteliers lost less than 5% in July – considering the global impact of the terrorist attacks in London during July, hoteliers have done well to keep losses down this much.
“We are confident they can bounce back during August and September. Meanwhile, rumours of hoteliers lifting their rates in the wake of the attacks don’t seem to be supported by the figures, which show that room rate hardly moved during thr month as a whole.
“Outside London the picture is very calm – a minor loss in occupancy was offset by a modest rise in room rate.
“Overall, we expect to see a healthier set of figures next month both in London and across the UK, but given the severity of the nature of the problems faced by the industry, and the capital as a whole, hoteliers have done the best they could.”
Report by Phil Davies
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