 Hoteliers in London could see double-digit revenue per available room (revPAR) growth this year, according to the latest Hotel Market Outlook, a quarterly report issued by Deloitte. Marvin Rust, Hospitality Managing Partner at Deloitte, said: "Actual Q4 2009 results in London smashed predictions, seeing revPAR rise 7.4% rather than the 3.5% decline previously forecast, and the start to Q1 2010 has been impressive. Year-to-date gains of 10.1% have already been recorded, and while Q1 as whole will be a little softer than the original prediction of a 15.8% revPAR rise, due to the bad weather, it does look set to end with gains in the region of 10 - 15%. With no further shocks, this could be a year that sees double-digit growth in the capital." Source |
Double-digit Growth Predicted for London
More than £10 is expected to be added to average room rates.