PwC: London hotels set for record 2012

LONDON hotels are set to have a record 2012, according to the UK Hotels Forecast from accountancy firm Pricewaterhouse Coopers (PwC).

The report suggests that the Olympics, the Farnborough International Air show and the Queen’s diamond jubilee will bring people flooding into the capital city, with occupancy set to hit record levels in the third quarter of next year.

PwC is predicting an occupancy of almost 92 per cent. Revenue per available room (revpar) is set to soar to 40.3 per cent, taking it to an average of £167.86.

The analysis by PwC shows that hotels in the capital have enjoyed another bumper summer this year with occupancy reaching 92 per cent in July – only a marginal decline on the record level seen in 2010, according to data from STR Global.

Liz Hall, head of leisure and hospitality at PwC said that new hotels in the east of London were a welcome addition.

“London needed an injection of stylish new products and this has strengthened the capital’s appeal, putting parts of East London on the hotel map for the first time.”

In London the luxury hotel market has been performing strongly.