see all jobs
RevPAR soars at London hotels
Despite the global economic downturn, hotels in London appear to have defied expectations as both rates and occupancies continue to grow.
Figures from STR Global show that July 2010 marked the highest achieved revenue per available room (RevPAR) reported during the past 11 years in the capital. RevPAR for the month was £134.64; the average daily rate (ADR) was £144.06; and occupancy was 93.5 per cent.
A weaker pound and more favourable exchange rates helped to attract tourists from mainland Europe, North America and the Middle East. Hotels in London also benefited from the biennial Farnborough Air Show, which was attended by more than 220,000 visitors. STR Global foresees uncertainties on the horizon, however. With between 20-30 per cent of UK hotel business driven by the public sector, there will be an impact on London hotels as the government's austerity measures kick in and the threat of a double dip recession remains.
This, says the company, will be exacerbated by an additional 5,000 rooms which are expected to open ahead of the 2012 Olympics, increasing supply in an already crowded market place.
More News
- News by sector (all)
- All news
- Fitness
- Personal trainer
- Sport
- Spa
- Swimming
- Hospitality
- Entertainment & Gaming
- Commercial Leisure
- Property
- Architecture
- Design
- Tourism
- Travel
- Attractions
- Theme & Water Parks
- Arts & Culture
- Heritage & Museums
- Parks & Countryside
- Sales & Marketing
- Public Sector
- Training
- People
- Executive
- Apprenticeships
- Suppliers