London hotels hit highest occupancy rating in 15 years
London hotels have achieved the highest occupancy rate for the month of August since 1999, according to new research released today.
Provisional figures released by business advisory and accountancy firm BDO suggested occupancy figures for the UK’s capital increased by 3.4% in August 2014, to 87.3%, while room rates were up 3.1% to £117.55.
As a result, rooms yield grew by 6.7% to £102.66.
The firm said the boost in occupancy can be attributed to increased foreign tourism in London, and mirrors record August passenger figures at Heathrow and Gatwick airports.
Regional hotels also had a strong month and August marked the fourth month of double-digit growth since the beginning of the year. Rooms yield was up 12.1% to £50.16, when compared to the previous year.
Regional occupancy remained high at 82.2%, an increase of 3.9%, which in turn pushed the average room rate up by 7.9% to £61.
Robert Barnard, partner at BDO, said: “August has been an all-round successful month for hotels in London and the regions. The buzz of UK tourism has firmly kept the momentum experienced last year and hoteliers are reaping the rewards as both overseas and domestic visitors make the most of all that the country has to offer.
“Interestingly, London has experienced the highest occupancy for August in 15 years – a sure sign that the UK hotels sector is now in the strongest position for a long time.”
Image courtesy of VisitEngland/Diana Jarvis
