Outside London, the picture was also encouraging, with occupancy and average room rate showing solid growth. Occupancy among regional hotels rose 2.7% to 61.0%, while average room rate was up 1.2% to £58.66 ($107). Rooms yield rose 4.0% to £35.80 ($64).
Robert Barnard, director at PKF, said: "These good figures are particularly welcome when considering the disappointing results that hoteliers posted at the beginning of the year. The industry should look back with some satisfaction at ending the year on a high note and we expect there to be growing optimism for the year. However, January is traditionally a slow month and we expect January 2004 to be no exception, so hoteliers could still face some testing times."
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