London leads hotel boom

London is leading the way as UK hotels remain on target for one of their best years ever, according to September figures from PKF’s monthly hotel tracker research. The capital’s properties have bounced back from the July 2005 bombings with a strong performance for the ninth month in a row. Hotels in the capital have benefited from a 16.5% year on year increase in room yield and an average daily room yield up by 20.9% on 2005 to £108.94. Beyond London, properties saw occupancy increase by 1.9% in September to 80.8% and daily room yield increase 5.4% to £59.19. Compared to figures from September 2005, sharp yield increases were recorded in Leeds (13%), Manchester (12.3%), Edinburgh (7.2%) and Liverpool (5.2%). However yield drops werwe recorded in Cardiff (-7.3%) and Birmingham (-2%). Robert Barnard, PKF’s partner for hotel consultancy, said: “Providing the economy stays reasonably buoyant to the end of the year, and barring any further terrorist scares or attacks, we can be reasonably confident that 2006 overall will go down as one of the best years ever for the hotel sector as a whole and London hotels in particular.”

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