06 Aug 2012
PwC: 'Mixed' first half of 2012 for London hotel operators
BY Pete Hayman
London's hotel sector experienced mixed fortunes during the first half of the year, according to benchmarking data analysed by PricewaterhouseCoopers (PwC).
Figures from STR Global have reported a 1.8 per cent increase in average daily rate to £154, although occupancy fell 1.2 per cent. As a result, RevPAR has only shown marginal growth.
It compares with a 12.7 per cent increase in RevPAR recorded the same point last year, with June 2012 showing as a "particularly disappointing" month for the capital's operators.
Looking forward, PwC said London is likely to remain one of the top two cities in the world for hotel accommodation, but has predicted challenges for the sector post-London 2012.
PwC head of hospitality and leisure research Liz Hall said: "Overall performance in the third quarter will be dictated by the extent to which hoteliers are able to hold on to their planned rate increases during the Games."
Click here for more information about London's half-year hotel trading performance from PwC.
Close Window