RBH sees up to 95% occupancy rises in Q3

RBH Hospitality Management have reported significant increases in performance for Q3, with hotels across the portfolio seeing as much as a 95% rise in occupancy rates in rural areas. Staycations this summer have seen an average occupancy of between 78-87% for the company between July and September 2021 in areas such as Middlesbrough, Barrow, Doncaster and Cheltenham. While London has seen a slower recovery, cities such as Edinburgh and Cardiff have seen “promising” acceleration over the summer months. Across the portfolio, average RevPAR has risen by 131% compared to the same period last year, surpassing the company’s target for recovery. The management company’s ADR of £85 is also ahead of 2019. The portfolio reached an overall occupancy of 70%, reportedly putting them 10 points ahead of the market for Q3. RBH’s occupancy was just 10 points short of the portfolio’s pre-pandemic 2019 occupancy. Additionally, RBH’s portfolio of nearly 50 hotels across the UK reports a “continually growing” demand for group business which has accounted for 12% of bookings this quarter, doubling the total of last year. RBH said the average lead time for bookings has remained low up until the past month where there was a rise in consumer confidence, meaning RBH is seeing longer bookings of up to two months. Holiday Inn Express properties have also been “consistently high performers as consumers have welcomed convenience, value and flexible booking terms”. Chris Martin, group director of revenue, said: “The repercussions of Brexit and the pandemic continue to have a significant impact on international travel to the UK, but domestic travel has boomed since the lifting of government-led restrictions in July and August across England, Scotland and Wales. “We are seeing a steady and continual rise in consumer confidence as progress with vaccinations continues and lead times for bookings have become noticeably longer.” He added: “It’s been a successful quarter for the growing portfolio, surpassing a number of revenue-based targets and an encouragingly strong start for our two newest properties – The Corner London City and Pocotel Glasgow City Centre. “We’re now focusing on expanding our London presence this Autumn, with two additional openings on the horizon – Gantry London, Curio Collection by Hilton and Westin London City.”

RBH sees up to 95% occupancy rises in Q3

Across the portfolio, the average RevPAR has risen by 131% compared to the same period last year, surpassing the company’s target for recovery

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