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London hotels on way to recovery
By Tom Walker
Hoteliers in the capital managed to improve profitability and increase total revenue per available room (TrevPAR), during September, according to the latest HotStats survey by TRI Hospitality Consulting.
Gross operating profit per available room (GOP PAR) among London hotels increased by 43 per cent compared to August 2009.
Average room rates during the month increased by around 13 per cent compared to August, a month that is driven by discounted leisure related demand. According to TRI, average room rates are now 4.8 per cent below the same period last year and 7.8 per cent below levels achieved year-to-date (nine months to September).
Jonathan Langston, managing director, TRI Hospitality Consulting, said: "Strong volume in the capital are a sign of increased UK and Eurozone consumer confidence and a pick up in business demand after the summer holiday months.
"The favourable exchange rate continues to drive leisure demand, particularly from Eurozone countries such as France and Germany."
Hoteliers in the capital managed to improve profitability and increase total revenue per available room (TrevPAR), during September, according to the latest HotStats survey by TRI Hospitality Consulting.
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