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London hoteliers enjoyed a profitable 2011, according to data released today by PKF Hotel Consultancy Services.
In December occupancy reached 75.8 per cent, a 0.8 per cent increase on December 2010. Room yield in London last year reached £115.94, 6.3 per cent higher than 2010 figures. This was mainly down to a 6.7 per cent rise in room rate from £131.36 to £140.09.
Robert Barnard, partner for Hotel Consultancy Services at PKF, commented: “The performance of London hotels has been exceptionally strong throughout most of the year – a 6.3 per cent increase in room yield in such a challenging environment is nothing short of a miracle.”
UK hotels outside of London did not fare quite as well, but nevertheless held steady. The average daily room rate per occupied room fell by 0.7 per cent, but the average daily room occupancy increased by 1.5 per cent.
“Looking ahead, we are optimistic that the Olympics will have a positive effect on the performance of London hotels this year, although I suspect the impact won’t be as dramatic as some of the more bullish commentators predict,” said Barnard. “With occupancy at already very high levels, and with few hoteliers expected to break ranks and hike prices beyond agreed levels, there is scope for a modest increase in room yields during July and August.”
