Hotels in the East Midlands have reported a steady start to the summer, with increasing revenues and occupancy levels in all major locations, according to the latest report from accountancy and business advisory firm BDO LLP.
Leicester rooms yield (the industry term for revenue) grew by 8.9% in June 2013; Derby 7.7% and Nottingham 3.5%; compared to an average increase of 2.4% in regional UK.
All three locations also saw a rise in the number of consumers coming through its hotel doors, with a particularly strong performance for Leicester hoteliers which reported double digit (12.6%) increase in occupancy levels in June due to the subtle discounting of room rates by 3.3% to £53.10 to help stimulate the market.
Meanwhile prices paid per room in Nottingham (£56.44) and Derby (£44.58) increased slightly compared to June last year by 2.3% and 0.2% respectively.
Roger Merchant, partner at BDO LLP in the East Midlands, said: “The results are promising for the region. The market remains challenging but the sector is, as always, putting up a strong fight.
“The region is diverse, bringing in visitors to a wide range of attractions. The corporate market is also showing a return to form.”
Roger Merchant adds: “The bank holiday season and a run of good weather have given hoteliers a welcome boost. In addition in Leicester, the recent discoveries related to Richard III and the reordering of Leicester Cathedral to accommodate the tomb should result in a positive, long term step change in visitor numbers.”
