In year-over-year comparisons, occupancy increased 7.5 percent to 64.2 percent, average daily rate was up 2.6 percent to US$103.09, and revenue per available room ended the week up 10.3 percent to US$66.15.
Whilst there is no surprise that 2010 has been a stronger year than 2009, it is a fantastic achievement for London hoteliers to produce their best performance of the past decade during a year of recovery.
In year-over-year measurements, the Canadian hotel industrys occupancy was up 4.4 percent to 75.3 percent. Average daily rate increased 1.2 percent to CAD$132.45. Revenue per available room increased 5.6 percent to CAD$99.70.
Overall, summer occupancy rose 6.8 percent to 65.6 percent, average daily rate increased 1.3 percent to US$98.76 percent, and revenue per available room was up 8.2 percent to US$64.78. The summer season comprises June, July and August.
The United States Hotel Industry Leading Indicator decreased 0.3 percent during August, after an increase of 0.9 percent the previous month, according to economic research firm e-forecasting.com in conjunction with STR.
The outlook for 2010 is for strong demand growth, and the industry is expected to regain stabilized levels of operation by 2014. Hotel values are also improving, fueled by both stronger fundamentals and improving investment market conditions.
HotStats European Chain Hotels Market Review August 2010
The branded budget hotel market in the UK continues to be dominated by just two large players, according to new research by TRI Hospitality Consulting. Figures from Budget Hotels 2010 UK show that the biggest brand, Premier Inn, had 41,511 rooms at the end of 2009 which gave it a market share of almost 38%.
In year-over-year comparisons, occupancy increased 6.7 percent to 63.5 percent, average daily rate was up 1.8 percent to US$100.25, and revenue per available room ended the week up 8.6 percent to US$63.66.
HotStats UK Chain Hotels Market Review – August 2010