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Hotels in London Report Growth in June

News According to the results of the survey provided by TRI Hospitality Consulting, London hotels reported growth in June 2011. The raise is seen in all main figures, including RevPAR (+15.1% to £132 or US$216) and GOPPAR (+17.6% to £94 or US$154). This increase in GOPPAR level is the highest one in the capital of the UK starting from September 2010.

As we can see, the positive trend in the industry lasts over a year. London hotels faced the toughest time in 2009, when companies had to deal with declines during 6 consequent months. At that time the decline in profit reached 14.1%. However, in the first half of 2010 the growth in profit reached 12%. Add here the 10% growth in 2011 and you will see London hotels are feeling very good and have overcome the pre-recession level.

As Jonathan Langston, the managing director of TRI Hospitality Consulting, has mentioned, the hotels in London have got rid of all problems connected with recession and now they are able to reach new heights in their work.

The growth in revenue reached 12.6% in June and estimated £147 (US$241). While the majority of the UK hotels still have problems with revenues due to inability to raise prices for commercial center, London accommodations enjoy increased demand in both conference and corporate sectors.

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