Hotels in the regions and the capital experienced a successful month in July, recording high occupancy and average room rate, according to the latest figures from BDO LLP.
Occupancy in regional hotels was boosted by sporting events such as the Commonwealth Games in Glasgow and the British Open in Liverpool, helping occupancy to rise by 2.9% to 82.8%. This also resulted in an 11.7% increase in room rate to £62.56. Rooms yield stood at £51.79, up 14.9% on last year.
Despite the recent increase in supply with a number of high-end hotel openings, such as the Shangri-La at the Shard and Firmdale’s Ham Yard, London continued to perform well with a high occupancy rate at 86.8%. Reflecting the growth of their regional counterparts, hotels in the capital experienced a 2.3% increase in room rate to £125.58, and a 1.9% increase to £109.01 in rooms yield.
Robert Barnard, partner at BDO LLP commented: “We know that major sporting events such as the Commonwealth Games always create a high demand for rooms and this has certainly been the case in the regions last month. London hotels have also had a busy month and the recent openings of luxury hotels show that demand for high-end hospitality in the capital maintains its strong growth pattern.
“Strong occupancy is great news for the hotels sector and the knock-on effect on room rate hints at growth in the year ahead. UK hoteliers can feel confident about the health of the industry, as the figures continue to show an upward trend.”