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London Hotels Suffer In September As Occupancy And Room Rates Fall

LONDON-A fall-off in Americans and Japanese visitors to London means that room yields fell more than 20% year-on-year in September. The 11 September attacks, the global economic slowdown and foot and mouth are all being blamed.

By Charlie Jacoby | Updated on October 26, 2001

LONDON-The London hotel industry suffered a plunge in occupancy levels and room rates in September. According to the first performance figures for the UK hotel industry since the 11 September terrorist attacks, released by PKF’s hotel consultancy services, occupancy levels were down 17.2% on 2000, room rates were down 6.6% there was a drop in rooms yield of 22.7%.

The performance of regional hotels was a little more encouraging with only a 1.7% drop in occupancy and a 1.5% increase in room rate year-on-year.

Although room occupancy levels in London have been falling since the beginning of 2001, largely as a result of the downturn in the US economy, the further plunge in occupancy levels experienced since 11 September is directly attributable to the fall off in US visitors in the aftermath of the atrocities. The number of hotel rooms occupied by American visitors during the whole month dropped by 45.5% although the percentage fall after 11 September is likely to be much higher.

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