18 October 2021 - Virtual
10 November 2021, Virtual
London, UK - November 2021
Preliminary hotel figures released by PKF hotel consultancy services reveal that the average room yield in the city during January is 17.9% higher than in the same month last year
The figures for 2006 (at a yield of £73.72 ($143.91) per room) were the highest since the Millennium, with this year's numbers going higher again at a rate of £86.94 ($169.61) per room.
The rise in yield reflects the rise in average room rates, which has risen by 13% - from £121.49 ($237.01) in 2006 to £107.48 ($209.68) in 2007. Occupancy was also up this year, rising from 68.5% last year to 71.6% this year.
Regional hotels are also performing well, with an increase in average room yield of 5.6%. Again this reflects increased rates and a greater demand for rooms.
Commenting on the results, PKF partner for hotel consultancy services Robert Barnard (pictured) said: ”It is astounding to see the London market performing so strongly, especially at a time when three recent interest rate rises have made their mark on the economy. January is also a time of year which is not renowned for growth, so with the rest of 2007 in front of us, it is very encouraging to see such a positive start.
”It is testament to the fact that London has become an increasingly desirable location for people to visit, with luxury hotels performing particularly well following an influx of foreign visitors. The regional figures are also excellent and the steady climb is again unusual at this time of year.”