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Strong Growth of Revenue for East Midland Hoteliers in September
September 2015 was also a successful month for hotels in the East Midlands (UK) that recorded growth of RevPAR of 6.8%. The growth was reached across all hotel segments. Hotels in the region managed not only to increase their occupancy by 1.1%, but also raise average room rate by 5.2%. The growth of the rate was noticeable in all segments: group leisure (+11%), individual leisure (+5%), corporate (+7%) and conference (+7%).
Hotels in Stratford-upon-Avon were among best performers in the UK in September. The first month of autumn followed the positive summer trend. The occupancy grew by 3.8%, while average room rate added 3.6%. Consequently, RevPAR grew as well and added 9.9% for the month. Stratford-upon-Avon remains one of best performers in the UK hotel market, but data analysis shows that there’s a danger of a year-to-year decline of gross operating profit (GOPPAR) due to raising costs.
Another British city among top performers is Birmingham. Hotels in Birmingham posted significant growth of GOPPAR of 23% if compared to September 2014. Despite growing hotel supply in the city (more than 850 guestrooms have been added since 2013), Birmingham hotel market records continuous growth of RevPAR. Next year, more than 250 guestrooms are to be added to the city’s hotel supply, but due to high demand from business visitors the revenues of local hotels are expected to grow.
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