RevPAR falls in the UK [inactive]
. The UK hotel market has been following the global trend of declining occupancies and growing rates for the first nine months of this year. Year-to-September still showed 3-percent RevPAR growth across the UK driven by 4-percent growth in room rates compared with the same time prior year.
The preliminary results for October and the first week of November continue this trend. London reported RevPAR of £121, down 6.5 percent. The regions came in with £59, down 7.8 percent for October compared to same month last year.
Of all UK cities, Liverpool is a shining exception. Liverpool reported the 16-percent RevPAR growth to £56 for year-to-September. Both occupancy (79 percent) and average room rates (£71) benefited. Liverpool increased RevPAR by 3 percent in October and 26 percent for the first nine days in November—due in part to hosting the MTV European Music Awards on 6 November.
“The sharp downturn for the capital and regional UK has surprised us”, concluded James Chappell, Managing Director of STR Global. “The recent predictions on the wider economic downturn will make 2009 a tough year for UK hoteliers”.
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