05.02.05
London hotels are set for a bumper year as overseas visitors return to the capital, according to a forecast by TRI Hospitality Consulting.
The report predicts that london hotels will see profitability jump 9% in 2005, which comes on top of a strong 2004, when profits rose by almost 13%.
The report predicts that most of the improvement will come from increasing numbers of tourists in the capital. Although last year saw record numbers of overseas visitors, however the rise was driven by increased numbers of budget travellers from Europe, with fewer big spenders from North America. The return of the big spenders should see profits rise in 2005.
The report also suggest that the UK's strong economy, low inflation and likely peaking of interest rates will see hoteliers' confidence improve, outweighing negative factors including the depreciating dollar (which makes Britain expensive for Americans), and fears about terrorist attacks.
2004 ended 3 years of decline for London's Hotels, with profits in London up 12.6%. The report shows that London hotels prices went up by 7.3% to £88.07 on average while occupancy levels rose from 77.1% to 80.9%.
For more information and things to do in London visit this London Guide and for london hotels see our London Hotel home page.
Part of the TMC price comparison network, offering: stansted parking gatwick parking heathrow parking luton airport hotel
Book a london hotel