London hits low point on occupancy
24 June 2002 by Louise Bozec
London hotels will record their lowest occupancy rates since 1993 this year, according to research published by consultant PricewaterhouseCoopers.
However, the study, entitled Hospitality Directions Europe Edition - Forecast Alert UK and Germany, does predict demand should improve next year.
It suggests that by 2004 the capital could see a record average daily room rate of £120.66 and an average revenue per available room of £96.85. Occupancy should reach 77%.
Liz Hall, research manager at PricewaterhouseCoopers Hospitality and Leisure Group, said: "If achieved, this will represent the highest occupancy rate since 1997, but still not as high as that achieved at the Queen's 1977 Silver Jubilee."
