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Occupancy rising - TRI
Demand for hotels in London last month was among the highest in Europe, the latest HotStats figures from TRI Hospitality Consulting have revealed.
London was one of the only European cities in May to see growth in occupancy of 1.5% year-on-year, exceeding the 80% mark.
TRI's managing director Jonathan Langston said: "The ability of London hotels to achieve occupancy levels in excess of 80% despite the recession reflects the strength of demand in the city.
"Additionally, London hoteliers have maintained a tight control over payroll expenses as a response to reduced revenue levels, reflecting the flexibility of the British workforce relative to several continental European countries."
TRI found that London's hoteliers had lowered staff spend by 1.6% on average last month, lessening the impact of the recession on profits per room which fell 2.9%.
Amsterdam and Prague both saw average room rates fall by more than 20% in May. But the Dutch capital achieved the highest revenue per available room (revPAR) of all the European cities surveyed.
Average RevPAR in Amsterdam last month came in at €131.76 year-on-year ahead of London with €127.31 and Vienna at €117.20.
The lowest profit per room of €32.57 was seen in the Brussels hotel market, TRI said. Brussels' hotels experienced a 34.9% decline in profit per room.
Despite all 10 cities experiencing a decline in profits in May year-on-year, TRI said there were "some positive signs in the market."
Mr Langston said: "Whilst a recovery in the hotel market may not be imminent, the gradual easing of the rate of decline in all city markets surveyed is a sign that the worst may have passed."