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Slow October for UK hoteliers
In the capital, room rate rose 0.1% on last year to £147.45, but the slowdown in business travel meant occupancy saw a 3.2% decline from 86.5% to 83.8%. Overall, this meant rooms yield was down 3.1% from £127.58 last year to £123.61 this year.
In the regions, occupancy was down 5.8% on 2007 from 77.2% to 72.7%. Room rate also fell 1.5% to £76.19 which meant rooms yield was therefore down 7.6% on 2007, from £59.70 to £55.42.
On a positive note, Liverpool still managed to make impressive gains due to its status for the year as European Capital of Culture. Room rate was up 1.2% from £81.98 to £82.93 while occupancy managed a 3.9% increase to 83.9% for the city. Overall, rooms yield jumped 5.1% from £66.26 last year to £69.61 this year.
Leeds was another northern city to experience some growth as rooms yield was up 0.6% on last year from £59.00 to £59.36.
On the flip side, Cardiff experienced more falls with a 9.4% drop in occupancy and a 16.8% decrease in room rate. As in September, the falls can be explained in part due by the Rugby World Cup matches which Cardiff played host to in 2007, boosting the city's hotels significantly.
Robert Barnard, partner for Hotel Consultancy Services at PKF, commented, "The continued global economic woes mean that the lack of growth experienced by many hoteliers in October, were to be expected.
"It is important to note that the falls overall were fairly moderate and the industry, while feeling the effects, is still holding its own. Occupancy in the capital is still at 83.8%, while in the UK as a whole, the hotels in our survey are at 72.7% of their capacity."
Preliminary data for October 2008
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