Hotels in London have outperformed the rest of Europe, according to the latest data published by Knight Frank. The organisation explained that the weak pound in conjunction with a "relatively restricted supply" of rooms has helped boost the sector. As a result, the outlook for hoteliers in the city appears to be positive, with the firm anticipating a rise in the revenue per available room (RevPAR) over the coming year.
Other parts of the UK have also seen their hotels do well, with Bath, Oxford, Cambridge, York and Edinburgh highlighted as posting strong figures. Henry Jackson of Knight Frank Hotels explained that the budget model is likely to continue to offer good returns, noting that such establishments "are still achieving good prices and this market is not yet saturated".
Last month, the HotStats UK Chain Hotels Market Review revealed that hotels based in London experienced year-on-year growth of profitability, while gross operating profit per available room and RevPAR were up by 17.6 per cent and 15.1 per cent respectively.