London Hotels Hold Stable during Downturn

by William ASTON on October 22, 2009

According to a recent report hotels in London have done better to survive the poor economy than the rest of the United Kingdom.  The report, which was released by Deloitte, showed that occupancy rates and profits in London hotels were not affected as much as around the rest of the United Kingdom. While the rest of the United Kingdom saw its occupancy rates fall for a variety of reasons, London hotels were able to maintain a stable occupancy rate, even with diminished tourism in the United Kingdom.

The travel and tourism industry around the United Kingdom has suffered mightily over the last few years for a variety of reasons.  The slumping global economy kept many people from taking expensive holidays abroad, while the outbreak of the swine flu epidemic made many scared to travel.  Even though a record number of Britons made their holiday in the United Kingdom this year, it was not enough to offset the economy, which kept many from coming from overseas.  In addition, the outbreak of the swine flu epidemic left many wondering about the safety of leaving home.  Both of these things led to significantly reduce occupancy rates at hotels around the United Kingdom.

The report showed that the United Kingdom saw an overall drop of around four percent between January and September of this year, while the London occupancy rates fell a meager 0.2 percent.  London enjoyed an occupancy rate that was nearly ten percent higher than the average around the United Kingdom with just over eighty percent of its rooms being filled to capacity.

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