Hotels in London have reported an increase of 1.5% in occupancy in October 2009, against the same period last year.
The latest HotStats survey by TRI Hospitality Consulting reveals that with 85.1% of its rooms engaged, the occupancy rates for London hotels in October are among the highest this year.
However, the revenue per available room or revPAR reported a decline of 3.2%, a marginal decrease since July 2008.
TRI Hospitality Consulting’s Managing Director, Jonathan Langston was optimistic that with occupancies showing steady improvement, the returns would also perk up.
The average room rates outside London also fell from £75 in October 2008 to £69 last month, a decrease of 7.6%. The figures, however, signify the smallest margin of decline since January.
Mr. Langston opined that UK hoteliers have successfully managed the volume of visitors and costs at the expense of reduced room rates. The trade-off has helped them maintain the provincial GOP PAR (gross operating profit per available room) declines at the lowest since September 2008.
For a hot hotel in the heart of London, Tudor Court Hotel is the perfect place.