Revenue per available room (revpar) plunged by 20.8% at London hotels in the week ending 24 January, 2008, according to figures from hospitality research company STR Global.
Revpar dropped to £79.01, down from £99.74 in the equivalent week of 2008.
The fall stemmed from a 13.1 percentage fall in occupancy to 66.8% and a 5.2% decline in average room rate to £118.26, compared with £124.76 in the corresponding week of 2008.
In the same week, regional hotels experienced a 12.9% fall in revpar (to £40.85) thanks to a 5.3 percentage point drop in occupancy and a 5.4% decline in room rate.
Manchester hotels suffered a steeper fall in revpar (by 16.3% to ££45.57) than the regional average but still achieved a higher figure, of £45.57.
Revpar for the 28 days to 24 January decreased by 11.7% in London hotels and by 13.7% in the provinces
By Angela Frewin
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