Hotel operators in London and the regions together recorded the highest rooms yield growth figures seen so far this year in October, according to preliminary figures released today by accountancy firm BDO.
Rooms yield in the regions increased by 6.5% year-on-year to £45.12, as the result of a 1.7% rise in room rate to £59.32, combined with a 5.7% improvement in occupancy to 76.1%.
In the capital, rooms yield rose by 8.5% year-on-year to £115.2, driven by a 7.6% improvement in room rate from to £131.66, and a 0.7% rise in occupancy to 87.5%.
Robert Barnard, partner at BDO said the latest figures are the strongest set of results seen so far this year. "It is encouraging to see such rapid, sustained and geographically balanced growth in the industry after the challenging trading conditions experienced during the recession.
"The data suggest that hotel operators may have turned a corner during the summer after a particularly sluggish start to the year, and are now making an important contribution to the UK's economic recovery.
"If hotels are able to maintain this level of performance for the remainder of 2013, then we may see the sector report positive rooms yield growth for the year as a whole, which would have been almost unthinkable back in the spring."