Hotel 2010: The Hotel Industry in 2010

What are the top trends that defined the 2010 hotel industry?According to the Hotel Britain 2011 report, PKF’s annual guide to the hotel industry, 2010 was a transformational year and showed important signs of growth.

Here are the “Hotel 2010” highlights:

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1. The UK: UK hotels saw rooms yield rise by 7.6% to £72.20. This represents a compound annual growth rate (CAGR) of 1.1%, and reflects some stabilisation following the peaks and troughs of the five-year cycle. Occupancy levels also increased by 2.6% to 74.5%.
2. London: In London, room occupancy increased by 1.7% to 82.7% and average achieved room rate (AARR) increased by 10.6% to £144.64. There was also an increase in rooms yield of 12.5% to £119.57 when compared to 2009, and over the last five years rooms yield witnessed a CAGR of 4.6%.
3. The Regions: Regional hotels achieved an annual occupancy of 70.5% up 3.1% compared to 2009. However, they recorded a negative occupancy CAGR of -1.0% over the last five years. AARR continued to be under pressure and was down 0.9% to £69.56. Overall, the regions managed positive annual growth in yield for 2010 at 2.2%.

Note: You can read the full article here.