LONDON hoteliers saw a record 2014 and while 2015 has so far failed to live up to last year, the Rugby World Cup could take total annual occupancy to a 10-year high, according to new data from PwC.
PwC expects London to see occupancy growth of one per cent, for 2015, taking it to 84 per cent, and it is expected to stay the same in 2016. “London occupancies have averaged 80 per cent or above since 2006 and our annual forecast for 84 per cent this year and next would be the highest this decade,” said Liz Hall, PwC’s head of hospitality and leisure research.
Meanwhile, average daily rate (ADR) growth is forecast to be 1.8 per cent, taking ADR to £142.
PwC said: “The increase in occupancy and ADR is partly due to the Rugby World Cup in the second half of 2015.”
The firm said the tournament, which started last week, will provide a fillip for UK hoteliers: “With a third of matches set to be played on a Sunday – traditionally a low occupancy night – the event is a great opportunity for hotels.”