London-based hotel managers are confident
that room rates and average revenue per available room will improve during the first quarter of 2011, according to the HotStats Hotel Confidence Monitor.
The results of the study revealed that expectations for improvements in revenue have increased by 73 per cent and 80 per cent respectively.
However, the outlook for regions outside of London is not so positive, with growth in room rate and revenue per available room expected by 45 per cent and 51 per cent respectively of managers.
Reflecting this trend, this quarter's profit expectations are higher in London than in outside, with 63 per cent of the London general managers expecting an increase. In contrast, only 32 per cent of regional managers forecasting a rise.
Meanwhile, TRI Hospitality Consulting has recently claimed that the hotel
sector in London is currently outperforming cities such as Paris, Madrid, Rome, Berlin and Amsterdam ahead of the Olympic Games, with demand and building work rising.
- Monday 28 February 2011