London hotels full in November | Deloitte Reports

London hotels full in November | Deloitte Reports Marvin Rust, Hospitality Managing Partner at Deloitte, said: “November has been a great month for the capital. Hoteliers reported stronger conference and meetings business over the previous year when demand was suppressed in the wake of the Lehman Brothers collapse and the other stresses in financial markets worldwide.

Deloitte, the business advisory firm, has confirmed that London’s hotel market is leading the recovery in European hotel performance after 13 consecutive months of decline. October showed the first signs of revPAR (revenue per available room) growth but data for November shows a dramatic increase in hoteliers’ revenue, rising 10% compared to the same month last year.

Deloitte, the business advisory firm, has confirmed that London’s hotel market is leading the recovery in European hotel performance after 13 consecutive months of decline. October showed the first signs of revPAR (revenue per available room) growth but data for November shows a dramatic increase in hoteliers’ revenue, rising 10% compared to the same month last year.

Marvin Rust, Hospitality Managing Partner at Deloitte, said: “November has been a great month for the capital. Hoteliers reported stronger conference and meetings business over the previous year when demand was suppressed in the wake of the Lehman Brothers collapse and the other stresses in financial markets worldwide.

“The leisure market also remained buoyant with more events this year such as the ATP World Tour Tennis Finals held from 22-29 November at The O2. Soft exchange rates versus the pound continue to act as a magnet for tourists making the capital around 30% less expensive than this time last year.”

Hotel performance in Edinburgh also pushed into positive territory in the first 28 days of November while Cardiff, Birmingham, Heathrow and Manchester experienced less than 5% revPAR declines which are much improved on figures from earlier in the year.

Source: STR Global

Notes: All analysis in GBP Daily and monthly data from STR Global was used to write this news release