BTN Europe presents an overview of business travel and MICE predictions for this year
Hotels in London continued on the road to recovery last month, according to PKF Hotel Consultancy Services.
Figures released by the company this morning (March 22) revealed that in February hotels in the capital enjoyed a year-on-year average room rate increase of 2.7% to £107.01.
Occupancy levels rose 6.4% from 73.8% to 78.6%, while room yield was up 9.2% to 84.08%.
However, hotels in the regions were still in the doldrums with average room rates down 6.6% to £59.07 on the previous year. Overall room yield was down 2.8% to £38.49.
The Scottish and Welsh capitals, however, did buck the trend thanks to an international rugby tournament.
Six nations fixtures in Cardiff meant room rates were up 3.6% on the same time last year, from £75.64 to £78.38, occupancy rose 7.3% and rooms yield increased by 11.2% from £52.23 to £58.07.
Meanwhile in Edinburgh, room rates were down, but only by 1.1% to £76.33. Occupancy was up 5.2% from 66.8% to 70.3% and rooms yield increased 4.0% to 53.67%, compared to 51.59% last February.
Robert Barnard, a partner at PKF, said: "2010 is going to be a year of recovery rather than growth for the hotel industry across the UK.
"Due to its global presence, London is an exception and positive figures for the capital suggest it has already bounced back. Hoteliers are already experiencing growth and I expect this to continue steadily over the year.
"Meanwhile, the regions will take the year to get back on track following the slowdown."