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London hoteliers report 'stable recovery'
Hotel operators in London are continuing to outperform their regional counterparts, according to the latest monthly figures released by PKF Hotel Consultancy Services.
The capital's hoteliers posted a 10.3 per cent growth in average daily room rate per occupied room in June 2010, compared with the same period last year. For the first six months of the year, London hotels reported a 2.3 per cent increase in occupancy and a 9.6 per cent growth in rooms yield as the capital's sector continued to recover.
Despite a 3.1 per cent growth in occupancy, however, regional hotels have seen rooms yield decline by nearly 1 per cent and room rate fall by 3.7 per cent compared with the first half of 2009. Robert Barnard, partner for hotel consultancy services at PKF, said: "The figures for London over the first half of this year suggest the capital is firmly into its recovery stage which is positive.
"The picture is not exactly the same in the regions, but the increases in occupancy levels so far this year are a good sign for hoteliers. We knew at the beginning of this year that over the 12 months of 2010, hoteliers could only expect a slow recovery."
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