15 Aug 2005
July figures show London’s resilience to terrorism
Figures from Deloitte’s HotelBenchmark survey show that revPAR for London hotels was down just 5 per cent in July compared with the same period last year.
Marvin Rust, managing partner of hospitality at Deloitte, said: “Data for the last week of July showed that hoteliers did not cut rates in response to the bombings. In fact, rates increased by 6 per cent, consistent with our expectation that the terrorist attacks would have a relatively short term effect on the London market.”
He added that GDP and exchange rates actually have more effect on the tourism industry than terrorist attacks and that the figures show how resilient the London market is. Details: www.deloitte.co.uk
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