Double-digit Growth Predicted for London Hoteliers in 2010
Hoteliers in London could see double-digit revenue per available room (revPAR) growth this year, according to the latest Hotel Market Outlook, a quarterly report issued by Deloitte.
Marvin Rust, Hospitality Managing Partner at Deloitte, said: “Actual Q4 2009 results in London smashed predictions, seeing revPAR rise 7.4 percent rather than the 3.5 percent decline previously forecast, and the start to Q1 2010 has been impressive. Year-to-date gains of 10.1percent have already been recorded, and while Q1 as whole will be a little softer than the original prediction of a 15.8 percent revPAR rise, due to the bad weather, it does look set to end with gains in the region of 10 – 15 percent. With no further shocks, this could be a year that sees double-digit growth in the capital.”
The latest Outlook expects the first three quarters of the year to post double-digit revPAR increases, although this will decelerate towards the end of the year. More than
