Optimism builds in UK hotel sector
UK hotels produced an impressive set of results in September with the sector looking cautiously optimistic to the future, according to new figures from business advisory and accountancy firm, BDO.
The performance of London hotels was particularly strong, with average room rate increasing by 8.9% to £145.37, compared with £133.51 in September 2012. This, combined with a slight increase in occupancy from 87.6% to 87.7%, resulted in rooms yield growth of 8.9% from £117.05 to £127.48.
In the regions, average room rate rose by 1.8% to reach £63.42, compared with £62.31 12 months earlier, and occupancy grew by 4.0% year-on-year from 76.4% to 79.5%. Rooms yield consequently improved by 5.9% from £47.62 to £50.43.
Robert Barnard, partner at BDO, said: "The UK hotel sector has stepped up a gear over the past few months. Encouragingly, the strong figures that we've seen since the start of the summer chime with the conversations that we're having with hotel operators throughout the country.
"For the time being, operators continue to cross their fingers that consumer and business confidence maintains its upward trajectory while also making sure that they stay attractively priced in what remains a highly competitive market."
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