UK hoteliers continue to hold own | PKF June 2008 Monthly Trends Report
UK hoteliers had another steady month in June with most reporting increased rooms yields, according to preliminary monthly figures released today by PKF Hotel Consultancy Services. In London, room rate was the main driver rising from £148.14 to £158.51 – an increase of 7.0% between 2007 and 2008. Occupancy dipped by 2.6% in the capital, but this is most likely due to the beginning of the holiday season affecting business travel.
UK hoteliers had another steady month in June with most reporting increased rooms yields, according to preliminary monthly figures released today by PKF Hotel Consultancy Services
In London, room rate was the main driver rising from £148.14 to £158.51 – an increase of 7.0% between 2007 and 2008. Occupancy dipped by 2.6% in the capital, but this is most likely due to the beginning of the holiday season affecting business travel. Overall, rooms yield rose a healthy 4.3% in London.
In the regions, room rate increased by 2.0% from £77.00 in 2007 to £78.56 in 2008. Occupancy dipped a little from 76.8% last year to 75.0% this year – a drop of 2.5%. Overall rooms yield fell by 0.5%. The year to date figures show that rooms yield has so far risen 1.1% on the same period last year.
Hoteliers in Liverpool, European Capital of Culture for 2008, continue to maximise profits recording a significant 19.4% increase in rooms yield from 53.37% to 63.72%. This was a culmination of an 11.1% increase in occupancy on the same period last year and a 7.4% rise in room rate.
Birmingham also had a strong month with a 4.1% increase in room rate and a 3.5% rise in occupancy.
“There has been a slight decrease in the occupancy figures for some cities this month, but the beginning of the summer holiday season goes some way towards explaining this.
“It should also be noted that the decreases are very small and, as 2007 was such a strong year, slight decreases are not a major concern particularly as the rooms yield year to date figures for both London and the regions are so far higher than the same period in 2007.
“Finally, it will be interesting to see if the Farnborough air show has its usual positive impact on London’s hotels in next month’s figures.“
Preliminary data for June 2008