PKF report: UK regional hotels show promising start to 2002

Wednesday, 21 Feb, 2002 0

According to PKF’s preliminary January figures for hotel performance, UK regional hotels enjoyed an encouraging start to 2002, with a 0.5% increase in room occupancy on 2001.

Outside London, the hotel industry continued to hold up well although room rate fell by 1.0%. However, PKF report that this must be put in context. Although January is traditionally a quiet month for the industry, the regional hotels’ 2002 January performance gave reason for optimism considering that the January 2001 rooms yield figures were 12.6% up on the 2000 figures.

The performance of London hotels, whilst considerably down on January 2001, also revealed a continuing trend of improvement on the last quarter of 2001. Average room rate was 8.3% down, room occupancy was down 6.0% and rooms yield was down 13.9% on 2001. Thus, January 2002 was the best month since August 2001 in terms of year-on-year performance.

Melvin Gold, Managing Director of Hotel Consultancy Services at PKF, said: “Regional hotels will be encouraged by these figures. January is traditionally a very quiet month but these figures compare well to last January’s strong performance and are further evidence of the underlying robustness of the sector despite the continuing economic slowdown.”

Preliminary Data for January 2002
Rooms Department

Rooms Department	2001	2000	% change
UK Regional Hotels (564)
Average daily room rate per occupied room	£62.36	£62.99	-1.0
Average daily room occupancy	59.1	58.8	0.5
Average daily rooms yield per available room	£36.86	£37.05	-0.5
London Hotels (130)
Average daily room rate per occupied room	£93.77	£102.27	-8.3
Average daily room occupancy	61.1	65.0	-6.0
Average daily rooms yield per available room	£57.28	£66.50	-13.9

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