Hotel revenue per available room (revpar) dropped by 21.8% in London and by 14.3% in the provinces in the week ending 14 March 2009, according to figures from hospitality research company STR Global.
London revpar fell to £83.31, down from £106.60 in the equivalent week of 2008. Occupancy declined by 12.4 percentage points to 72.7% while average room rate dropped by 8.5% to £114.58.
In the same week, regional revpar decreased to £46.46, compared with £54.24 a year ago, thanks to a 7.5 percentage point fall in occupancy to 64.6% and a 4.5% reduction in room rate to £71.92.
Cardiff hotels, which are affected by rugby fixtures, fared worse, with a 47.2% slump in revpar (to £39.70) on the back of a 16.7 percentage point fall in occupancy and a 33.3% drop in room rate.
Hotel revpar for the 28 days to 7 March, 2009, fell by 14.3% in London and by 14% in the provinces to £85.76 and £44.02 respectively. For the same period, revpar dropped by 28.9% in Cardiff.
By Angela Frewin
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