UK hotels hit 21-year high

UK hotels last year achieved record room profits, according to business advisory firm PKF’s hotel consultancy arm. Nationwide, room profit grew during 2006 by 4.6% to £52.28, the highest since 1998. The growth was driven by demand for hotel rooms from domestic and international business travellers, according to PKF. London hotels last year made an average daily room profit of £93.28, the highest since 2000. The inflation-adjusted figure is up 16.8% on 2005 and represents the highest annual growth rate since 1985, the study says. The growth was helped by a 15.7% increase in visitors to London last year. PKF hotel consultancy services partner Robert Barnard said the rise in 2006 had been better than predicted and it was likely that the UK hotel market would see continued growth this year: "With UK interest rates on the rise and another hike expected, the spectacular growth rates seen this year are likely to be toned down in 2007."

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