THE hotel industry in Yorkshire has seen a robust and sustained recovery, according to the latest UK Hotel Review from international real estate advisors, Knight Frank.
Improved economic prospects at home and abroad are largely responsible for the improved picture, helping to boost occupancy levels and room rates.
The report suggests that the outlook for the Yorkshire hotel sector is favourable over the short to medium term, fuelled by strong consumer spending and a return to sustained expansion in international personal and business travel.
Latest industry figures suggest that average occupancy rates in June 2004 averaged 75.2per cent, up 2.1 points from the previous year. Room rates are also rising with a 9.4per cent increase in London over the past 12 months to average £92.34, and by 2.6per cent in the regions to average £64.75.
Overseas visitor numbers have also increased. In the first six months of this year, overseas visitors to the UK totalled 13.45 million, a 12per cent increase from the same period in 2003.
Knight Frank's Hotel Review also highlights emerging trends including spas and cottage complexes.
Updated: 11:16 Wednesday, September 15, 2004
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