10 November 2021, Virtual
London, UK - November 2021
London, UK - December 2021
But PKF says regions still struggling
Occupancy in London hotels increased by 1.3% in May, compared with the same month last year, according to hotel consultants PKF.
But while occupancy now stands at 82.1%, PKF said the room rate dropped by 7.3% to £116.49.
This led to a fall in room yield of 6.4% from £101.77 last May to £95.59 this year.
But the consultants reported that UK regional hotels were continuing to struggle.
Occupancy fell by 5.6% to 70.1%, room rate fell from £76.93 in 2008 to £69.75 this year and room yield slumped by 14.4%.
PKF said Cardiff, the Welsh capital, was among the worst hit with a 25.1% drop in room from £62.62 last year to £50.02 this year.
Manchester saw a drop in its room yield so far this year of 15.2%, a 6% fall in occupancy and a 9.8% slump in room yield.
Robert Barnard, a partner at PKF, said: "The story continues in May on a similar vein to April. London's year round appeal means that visitors continue to stay in the capital's hotels, pushing up occupancy figures.
"The economic climate means that hoteliers are having to reduce their rates in order to attract the visitors however and overall this is affecting rooms yield.
"The regional story is a different one with the cities losing in the downturn on both an occupancy and rate front.
"However, places like Edinburgh have proved to be an exception to this rule, as the city, like London, again managed to increase occupancy levels.