London hotels saw a slow down in growth in January 2011, according to the latest HotStats from TRI Hospitality Consulting.
Figures for January – which is usually a quiet month for hoteliers – showed that room revenue per available room (Revpar) increased by 3.3 percent in the city and gross operating profit per available room (Goppar) remained stable. In contrast, last January Revpar increased by 9.2 per cent for hotels in the capital and Goppar by 19.2 per cent.
TRI Hospitality Consulting managing director Jonathan Langston explained: “After the strong bounce-back in 2010, it was almost inevitable that London hotels’ profit performance would be subdued in what is usually a tough trading month for hotels. It will be interesting to see if this continues throughout the year on the back of an excellent 2010 in London.”
Interestingly ,the luxury market showed the best performance in January with a 3.7 percent Revpar increase at five-star hotels. Three and four-star hotels only managed an increase of 2.3 per cent and 1.7 percent respectively.