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London Hotel Market 'Performing Well'

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PricewaterhouseCoopers  London  Olympic Games  Hotel Price Index  Hotel Performance Figures  Liz Hall  Hotel Revenue Statistics 

London Hotel Market 'Performing Well'

By - Friday 30 September 2011

The latest data to be published by PricewaterhouseCoopers (PwC) shows that hotels in London performed well over the summer months, with occupancy rates of 82 per cent in July, while the firm predicts that the average daily rate (ADR) in the capital could finish the year GBP 11 higher than in 2010 to stand at around GBP 134.50. However, the organisation expects growth to slow in the final three months of 2011, compared to the second and third quarters of the year, although this will still outpace the 2010 performance.

Looking ahead, PwC is anticipating a slow start to 2012, with the third quarter of the year due to be the busiest and most profitable due to the Olympic Games. Liz Hall, head of hospitality and leisure research at the firm, believes that occupancy rates could hit 92 per cent in London, while she predicts that ADR will grow by 32.3 per cent. The organisation also pointed out than an additional 6,000 rooms are set to be made available over the coming months, in time for the international sporting event.

According to the latest trivago Hotel Price Index, room rates in London increased by 15 per cent between August and September this year, with July the most expensive month to stay in a hotel in the capital over the summer period.
 

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