Hotel Performance: Strong Hotel Performance in September
The UK experienced strong hotel performance across the board during September, with strong increases in room rates, occupancy and room yield.
New research from PKF Hotel Consultancy Services revealed that hotel performance in London was particularly robust. Room rate increased 12.5% from £118.56 in 2009 to £133.37 in 2010. Occupancy increased 4.7% from 85.0% to 89.1% while rooms yield increased by 17.8% to £118.80 from £100.89.
In the regions, September was also a good month although there was a slight decrease in room rate. Occupancy was up 5.9% from 73.3% to 77.7%, room rate fell, but only marginally from £65.45 in 2009 to £65.42 this year. Overall, rooms yield increased by 5.9% to £50.84 compared to £48.02 last year.
“September was a robust month for London hoteliers with many regional cities also posting positive results,” explained PKF partner, Robert Barnard.
The Labour Party conference and election of their new leader proved a big draw to Manchester’s hotels in the month, with occupancy increasing 5.4% to 82.2%. Room rate was also up, by 9.4% to £81.78, and overall rooms yield was up 15.3% to £67.19.
Edinburgh had a solid September with room rate up 4.2% to £93.13, occupancy up 1.2% to 87.9% and rooms yield up 5.4% to £81.87.
Liverpool had a less successful month with room rate, occupancy and rooms yield all falling against the same period last year. Room rate was down 6.8% to £65.98, occupancy was down 3.7% to 76.5% and rooms yield was down 10.3% to £50.50.
“The Recent Spending Review is likely to affect hoteliers moving forward,” concluded Barnard, “as businesses tighten their belts once again.”
“The solid figures we have seen over the past few months are at least a good start point if there are to be further bumps in the road ahead for the UK’s hoteliers.”
Preliminary Hotel Performance Data (September 2010)
|UK Regional hotels (756)|
|Average daily room rate per occupied room||£65.42||£65.45||-0.1|
|Average daily room occupancy||77.7%||73.3%||5.9|
|Average daily rooms yield per available room||£50.84||£48.02||5.9|
|Approximate number of rooms per day||80,650||80,750|
|London hotels (156)|
|Average daily room rate per occupied room||£133.37||£118.56||12.5|
|Average daily room occupancy||89.1%||85.0%||4.7|
|Average daily rooms yield per available room||£118.80||£100.89||4.0|
|Approximate number of rooms per day||35,750||33,900|