Revenue per available room (revpar) dropped by 13.8% in London hotels and by 9.9% in the provinces in the week ending 21 February 2009, according to figures from hospitality research company STR Global.
London revpar dropped to £86.86, down from £100.80 in the equivalent week of 2008. Occupancy fell year-on-year by 5.2 percentage point (to 75.6%) and average daily rate declined by 7.8% to £114.92.
In the same week, revpar in the regions decreased to £43.72 (down from £48.51) thanks to an 8.3% reduction in daily rate to £65.01 and a 1.1 percentage point fall in occupancy to 67.3%.
Manchester outperformed the provincial average with a 2.8% decline in revpar which stemmed from a 3.9 percentage point rise in occupancy.
Revpar for the 28 days to 21 February fell by 8.8% in London and by 11.8% across the provinces. Manchester's hotels experienced a greater decline in revpar of 13.6%.
By Angela Frewin
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