London hotels see rise in profits

Hotels in London have seen their profits continue to rise in July with a year-on-year increase of 30.5 per cent.

According to the latest statistics from the HotStats Survey by TRI Consulting, the rise in profit is due to a boost in room occupancy which was at 91.9 per cent, this in turn increased the average room rate by 19.6 per cent to £141.91.

According to the survey, much of the increase in business is due to a strong programme of events and festivals, held in the capital.

Jonathan Langston managing director of TRI told Meetpie: “In July, London hoteliers will typically benefit from strong headline performance levels derived from the flocks of tourists, demand from the commercial sector as well as Middle Eastern families escaping the searing heat of their home country.”

“The boost in hotelier’s business will be welcomed by those with event spaces to rent in the capital.”

July was recorded as the busiest ever month at London Heathrow. The airport handled more than 6.7 million passengers with Sunday 18th July named the busiest ever day as 232,000 passengers used the airport. Airport operator BAA said the main source of passenger growth at the Heathrow in July was the European market, which fuelled an increase of 9.5 per cent.