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UK Hotels See Minor improvement

UK, October 2, 2009: Year-to-date August 2009 hotel performance indicators in the UK confirm a minor, yet positive swing, signifying a slowdown in market decline.

“These performance indicators have a long way to go before suggesting a recovery, but they are indeed a positive sign. The next few months however will be crucial in determining if the hotel cycle is spinning in the right direction; that OR change continues to climb and ADR remains stable,” stated Director of Development, MKG Hospitality, Vanguelis Panayotis. “In order for this to occur, improvement should really come from the corporate clientele segment.”

According to MKG Hospitality’s market monitoring database HotelCompSet, average Occupancy Rate (OR) in August reached nearly 72%. Although this still represents a decrease of 4.7 percentage points compared to August 2008, the decline is less significant compared to the beginning of the year.

Meanwhile, the rate of decline in Average Daily Rate (ADR) and Revenue per Available Room (RevPAR) also stabilised, reaching £74.7 and £53.7, respectively. Read the full story

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