Nottingham hotels prove resilient
NOTTINGHAM hotels are showing reasonable resilience, says accountants PwC.
Occupancy rates in the year to the end of August 2012 were 64 per cent, falling only marginally from those in the previous year, according to data provided by STR global.
Trading conditions remained tough for hoteliers across the UK, not helped by the Olympic effect which put visitors off coming to the UK.
The average daily rate for hotel rooms in Nottingham in the year to end of August 2012 was £49, the same as the previous year.
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Revenue per room fell marginally to £31.
Matthew Mullins, partner and hospitality and leisure sector expert at PwC in the East Midlands, said: "It is encouraging to see that occupancy rates are bearing up well.
"Hoteliers and leisure sector investors are still contending with the aftermath of the financial crisis and have had to adapt to a lack of consumer spend. They have therefore been unable to pass price increases through the market.
Mr Mullins continued: "One-off events such as the Jubilee and the Olympics have had a positive effect on London with record rates but outside the capital the impact has been more erratic.
"Coupled with the persistent wet weather in the first part of the year, demand for hotels in areas outside London has been dampened, more so for mid-range hotels rather than for those at the top and value ends of the market."
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