Great November For London Hotel Market
Sharon MillerLondon hotels seem to have finally bounced back from a string of less then desirable month in terms of bookings. Providers in the British capital have experienced positive rates and increased occupancy levels during the last month.
Occupancy rates averaged 85.8% in London hotels during November while room rates averaged at £138. There was an increase in the revenue per available room (revPAR) at London hotels of 10% year over year to £119 in November, said consultancy firm Deloitte.
The recent figures prove to be a total contrast with Deloitte’s previous quarterly report which stated that London’s revPAR had shrunk 7.6% year-over-year during the month of September.
Deloitte hospitality managing partner Marvin Rust commented that the month of November has demonstrated to be a great month for London in terms of hotel activity.
Mr Rust said that demand had been suppressed after the collapse of the Lehman Brothers and the other stresses stemming from global financial markets had not helped the capital’s fortune with hotel bookings.
He said that the leisure market was still buoyant with an increase in events during the year including the ATP World Tour Tennis Finals which was scheduled from 22-29 November.
Tourist continue to flock to the British capital partly because of soft exchange rates versus the pound, thus making London around 30% cheaper than the same period 12 months back.
Edinburgh also experienced a positive November, with a revPAR increase during the month, posting a jump of 2% to £59. The Scottish capital benefited from occupancy rates of 75.2% and room prices averaging at £78.
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Filed under Business & Finance, Hotel Chains, Travel News, UK News