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Although revPAR remains low in the UK, the pace of decline is easing up, according to a recent hotel performance analysis by Deloitte. Additionally, some markets are even showing gains in 2008 figures as strong leisure demand drives up weekend occupancies and revenues. For instance, revPAR was down 3.8 percent on the weekend, but cities such as Glasgow and Edinburgh posted increases in weekend demand at 4.3 percent and 3.4 percent, respectively.
London is making strides—albeit small ones—thanks to the improving weekday corporate business market. "Although the results for corporate weekday demand in London look weak with a decline of 11 percent, the trend is definitely upwards over the last five months," says Marvin Rust, hospitality managing partner at Deloitte.
Currency values are also playing a role in improving hotel performance throughout the region. "Clearly one of the factors driving the upward trend across the country is the increasing number of Brits taking short breaks in the UK, where [the] sterling stretches further than in Europe," Rust says. "The strong euro against sterling has also made the UK less expensive than in the past, which is helping hotels perform better."
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UK Hotels Show Signs of Recovery
June 22, 2009Although revPAR remains low in the UK, the pace of decline is easing up, according to a recent hotel performance analysis by Deloitte. Additionally, some markets are even showing gains in 2008 figures as strong leisure demand drives up weekend occupancies and revenues. For instance, revPAR was down 3.8 percent on the weekend, but cities such as Glasgow and Edinburgh posted increases in weekend demand at 4.3 percent and 3.4 percent, respectively.
London is making strides—albeit small ones—thanks to the improving weekday corporate business market. "Although the results for corporate weekday demand in London look weak with a decline of 11 percent, the trend is definitely upwards over the last five months," says Marvin Rust, hospitality managing partner at Deloitte.
Currency values are also playing a role in improving hotel performance throughout the region. "Clearly one of the factors driving the upward trend across the country is the increasing number of Brits taking short breaks in the UK, where [the] sterling stretches further than in Europe," Rust says. "The strong euro against sterling has also made the UK less expensive than in the past, which is helping hotels perform better."
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