London hotel room rates up 8% in May

The London hotel average room rate in May was up almost 8% on May 2009, according to TRI Hospitality Consulting research.

London hotel average room rate in May up 8%
London hotel average room rate in May up 8%
The European Chain Hotels Market Review shows that London’s average room rate in May was €164.74  (£134.57) compared to €152.86 (£124.85) in May 2009.

TRI’s research also found that Europa Cup football finals boosted hotel profits in Hamburg and Madrid in May.

In Hamburg, the location of the first Europa Cup final, revenue per available room grew by 11.7% to €93.15 (£76.10), and in Madrid, which hosted the Champions League final, the average room rate grew by 13.1% to €145.44 (£118.79).

TRI Hospitality Consulting managing director Jonathan Langston said: "We have highlighted the impact of major events on hotel performance in the past but such events are even more important at the moment, if only to distract hoteliers from the wider issues in the market. Looking at the year to date, both Hamburg and Madrid are now showing positive results with growth in profitability firmly back on the agenda."

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