Hotels across the UK have bucked the downbeat economic mood to post a positive set of results in October, according to preliminary figures released today by PKF Hotel Consultancy Services.
Rooms yield growth in London of 3.8% to £128.24, compared with £123.59 in October 2011, was driven by a 2.3% rise in room rate to £146.07 and a 1.4% increase in occupancy to 87.8%.
Meanwhile, 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 and hospitality consultancy services at PKF, said: “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 six weeks left before the end of year, Singh believes 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."By Janet Harmer
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