A fall in room rate and occupancy resulted in a decline in rooms yield in London hotels in November this year, according to a survey conducted by PKF Hotel Consultancy Services.
Rooms yield in London decreased by 4.6% to £112.96 against £118.46 in November 2011, due to a 3.4% fall in room rate to £136.20 and a 1.3% decline in occupancy to 82.9%.
PKF Hotel & Hospitality Consultancy Services partner Robert Barnard said that operators in London had a tough month, but occupancy and room rate are still at impressive levels.
"London’s fundamentals remain strong so this is unlikely to be much more than a temporary blip for the capital’s hotel market," observed Barnard.
In various other regions of the UK, however, rooms yield increased by 0.5% from £41.49 to £41.71, supported by a 0.1% increase in occupancy to 70% and a 0.4% rise in room rate to £59.62.
Barnard said, "This is another decent set of results from hotels in the regions. Skilful management and the lack of any meaningful new development are helping to keep rooms yield in positive territory despite the dreary economic outlook."
The average daily rooms yield in London for October this year witnessed a hike of 5.5% to £131.33 from £124.47 in the previous year; the occupancy rate increased by 1.6% to 88.1% and the room rate by 3.9% to £149.07 from £143.52.
Growth among regional hotels in October was comparatively low with the average daily room rate per occupied room growing by 1.6% to £60.02 from £59.05, at an occupancy rate of 75.3%, a rise of 0.3% from the previous year.