Hotels across the country posted a solid set of results in October, according to preliminary hotel figures released by PKF Hotel Consultancy Services.
Room rates and occupancy up
Rooms yield in London grew by 3.8% to £128.24, compared with £123.59 in October 2011. This was driven by a 2.3% rise in room rate to £146.07 coupled with a 1.4% increase in occupancy to 87.8%.
Hoteliers in the regions saw rooms yield grow by 2.4% from £44.59 to £45.66, thanks to a 0.3% increase in occupancy to 75.1% and a 2.1% improvement in room rate to £60.84.
Govinda Singh, Director for Hotel & Hospitality Consultancy Services at PKF, commented:
“This is an impressive showing from the hotel sector – particularly when put in the context of lingering pessimism about the performance of the economy as a whole.
“London remains the engine of growth, which is hardly surprising. However, it is encouraging to see that regional operators are also posting solid results.
“With around six weeks left before the end of year, the industry is on track to deliver a modest increase in rooms yield for 2012 as a whole. This will be a significant achievement during a turbulent 12-month period in which operators have sought to make the most of major events such as the Diamond Jubilee, Olympics and Paralympics whilst battling against a sluggish economy and a lack of consumer and business confidence.”
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