April showered good news on the UK hotel industry with double digit increases in rooms yield across the board, according to the latest figures from PKF hotel consultancy services.
PKF’s report, published today, shows London hotel occupancy up 3.7% to 75.8% in April, compared to the same period last year. Average room rate was up 8.3% to £104.78, pushing rooms yield up 12.3% £79.40.
Hoteliers outside London also had reason to celebrate with occupancy in April this year up 4.0% to 71.9% compared to April 2004. Average room rate was up 6.2% to £65.20 and rooms yield increased by 10.4% to £46.89.
Robert Barnard, partner for hotel consultancy services at PKF, said: “These positive figures are extremely good news for the hotel industry, although Easter fell in April last year so the results are not strictly comparable. Occupancy is up more than 5% across the board, which has stimulated average rate growth, allowing for overall performance to improve. Double digit increases in rooms yield both in London and in the regions show a very promising foundation for the early summer season. We’ve been warned of a possible hot summer and these figures are certainly sizzling already!
Preliminary data for April 2005
Final data for March 2005
PKF is one of the UK's leading firm's of accountants and business advisors and specialises in advising the management of developing private and public businesses. The firm has more than 1,500 partners and staff operating in over 25 offices around the country. Principal services include assurance and advisory; consultancy; corporate finance; corporate recovery and insolvency; forensic; and taxation. The firm has particular expertise in advising sectors such as small and medium sized companies; charities; hotels and leisure; medical; professional partnerships; public sector; and technology. The firm’s web site is www.pkf.co.uk.
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