New Partyoffers Search:
Hotels suffering from economic downturn
UK hotels are continuing to suffer from the economic downturn, according to new figures.
Room rates, occupancy and room revenues have all gone down over the past 12 months as the credit crunch takes its toll.
Figures from the PKF Hotel Consultancy Services study showed London room rates were down 5.6 per cent from £137.29 last year to £129.93 this year.
Occupancy also dropped by six per cent to 79.5 per cent over the period, while revenue per available room fell 11.1 per cent to £103.32.
Even areas such as Leeds and Manchester which have previously performed well in spite of the credit crunch are now performing badly.
Edinburgh's hotel market reported losses of 5.3 per cent in occupancy and 6.7 per cent in revenue per available room, website catersearch.com reports.
Robert Barnard, partner for Hotel Consultancy Services at PKF, said: "Figures from hoteliers in the last few months have shown they are beginning to feel the inevitable squeeze from the UK, and global, economic downturns.
"In the capital however, looking at the year to date figures, there was some growth to see as room rate is up 4.7 per cent on the same 11 month period in 2007, while overall, revpar was up 3.2 per cent on the same period.
"As there is still no end in sight to the current economic downturn however, it is unfortunately probable that hoteliers will have to endure further knocks in 2009."
