Hotel revenue per available room (revpar) plunged by 15.8% in London and by 18.9% in the provinces in the week ending 7 March 2009, according to figures from hospitality research company STR Global.
London revpar dropped to £82.12, down from £97.51 in the equivalent week of 2008. Occupancy fell by 7.2 percentage points to 71.9% while average room rate declined by 7.4% to £114.18.
In the same week, regional revpar plummeted to £42.78, compared with £52.74 a year ago, thanks to a 7.6 percentage point fall in occupancy to 62.6% and a 9.1% decrease in room rate to £68.30.
Edinburgh hotels fared worse, with a 38.5% decline in revpar (to £44.75) on the back of a 10.5 percentage drop in occupancy and a 28.3% fall in room rate.
Hotel revpar for the 28 days to 7 March 2009 fell by 9.9% in London and by 11.5% in the provinces. For the same period, revpar dropped by 12.8% in Edinburgh.
By Angela Frewin
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