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London hotel trade suffering
Figures released by Hotel Consultancy Services at accountancy firm PKF have shown the London hotel industry to be struggling as foot and mouth and a strong British economy continue to deter visitors.
The figures showed a drop in occupancy, average room rate and room yield in June 2001 compared to June 2000. Occupancy fell 5.8 per cent to 83 per cent, and the average daily occupied room rate was down 12.2 per cent to £118.45 leading to a 17.2 per cent loss in average daily yield to £98.36.
Conversely, the regional hotels across the UK have noted only a one per cent fall in room occupancy, in spite of the expected damage of foot and mouth on the rural hotel industry.
Melvin Gold, managing director of Hotel Consultancy Services at PKF said the London figures were not unexpected but expressed pleasant surprise at the nationwide performance: Whilst the London figures are no surprise given the deepening of the US recession and the near impossibility of matching last July's record breaking performance, it is very heartening that the rest of the UK market appears to be confounding the 'doom and gloom' forecasts for summer bookings.
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