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London leads recovery among European hotels

07 December 2009 by
London leads recovery among European hotels

London's hotel market is leading the recovery in European hotel performance after 13 consecutive months of decline, research has revealed.

The study by consultancy Deloitte and STR Global highlighted a dramatic increase in revenue per available room (revpar) in November for hotels in the capital, rising 10% compared to the same month last year, from £119 to £138.

Marvin Rust, hospitality managing partner at Deloitte, said: "November has been a great month for the capital. Hoteliers reported stronger conference and meetings business over the previous year when demand was suppressed in the wake of the Lehman Brothers collapse and the other stresses in financial markets worldwide.

"The leisure market also remained buoyant with more events this year such as the ATP World Tour Tennis Finals held from 22-29 November at the O2. Soft exchange rates versus the pound continue to act as a magnet for tourists making the capital around 30% less expensive than this time last year."

Hotel performance in Edinburgh also pushed into positive territory in the first 28 days of November while Cardiff, Birmingham, Heathrow and Manchester experienced revpar declines of less than 5% - much improved on figures from earlier in the year.

Confidence returns to the hotel market >>

First glimmers of hope for hotel recovery, says analyst firm >>

UK hotel performance on an upward path >>
Confidence rises among European hotels and restaurants >>

By Daniel Thomas

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