Chain hotels succeeded in pushing up room rate during May, according to the latest HotStats survey from TRI Hospitality Consulting. In London room rate grew by 10.7 per cent compared to May 2006 to reach £112.89. This was counteracted by a dip in occupancy to result in a 7.3 per cent increase in revpar to £92.81. The increase in rooms revenue was more subdued than the capital has been used to in recent months. From May 2006 to April 2007 London enjoyed uninterrupted double digit growth in revpar.
“The rate of London’s revpar growth has moderated, which may give rise to a more flexible approach to future pricing. But in May, London’s hoteliers held firm on their rate policies and continued to push for growth,” said David Bailey, dir...[…]