Monthly UK Hotel Trends February 12 February 12 Summary of performance Hotel type / location Available Occupancy (%) AARR ( ) Rooms Yield ( ) rooms/day 12 11 % ch. 12 11 % ch. 12 11 % ch. Total UK Feb 12 137,5 68.1 67.7.6 83.84 82.73 1.3 57.13 56.1 2. YTD 65.2 62.8 3.8 81.24 81.56 -.4 52.96 51.21 3.4 London Hotels Feb 12 39, 75.7 75.2.7 132.61 129.78 2.2 1.39 97.59 2.9 YTD 74.1 72.8 1.8 13.2 126.27 3. 96.34 91.92 4.8 Regional UK Feb 12 97,45 65.1 64.4 1.1.91 61.58-1.1 39.64 39.69 -.1 YTD 61.6 59.4 3.7 57.37.2-4.4 35.32 35.67-1. The February 12 UK Hotel market posted an increase in Room Yield of 2.% to 57.13, when compared to the same month of last year. The growth was driven by both the increase in Occupancy (.6%) and AARR (1.3%) to 83.84 compared to last year figures. The cumulative results also show positive signs with a growth of Rooms Yield of 3.4% to 52.96. 18 1 1 1 Monthly Performance London Hotels Feb 11 - Feb 12 1 9 8 7 The London Hotel Market also experienced a good month in February with a Rooms Yield increment of 2.9% up to 1.39. This was driven by the good performance in both Occupancy and AARR, respectively recording a.7% and a 2.2% jump. The aggregate comparison also shows the capital performed well in February 12 with a 3.4% Rooms Yield leap to 52.96. 1 8 5 % 3 1 Regional Hotels experienced a more stagnant climate. Occupancy increased by 1.1% up to 65.1%, but the AARR declined from 61.58 to.91 (-1.1%). This meant the Rooms Yield was kept at a 39.65 (-.1%). As the table shows February 12 cumulative performance is also negative for regional hotels, as despite the 3.7% Occupancy rise, the AARR shrank by -4.4% outweighing the Rooms Yield at -1.% to 35.32. 7 5 Yield AARR Occupancy Monthly Performance Regional Hotels Feb 11 - Feb 12 1 9 8 7 Performances for the Sub regions of UK in February were mixed. Scotland performance was overall negative as the decrease in Occupancy (-2.4%) led to a contraction of Rooms Yield (-2.2%) to 41.43. However, Scotland AARR increased by.2% to 64.43. In comparison, the Welsh market underwent a more significant contraction. AARR decreased by -9.4% probably contributing to the Occupancy growth (2.6%) but overall Rooms Yield dropped by -7.% to 36.97. 3 1 Yield AARR Occupancy 5 % 3 1 Hotel Consultancy Services Michele Pasqui +44 765 425
England, on the other hand, experienced a rise in Occupancy (1.1%) but this was contrasted by an AARR decreased of -.5%. The Rooms Yield therefore experienced only a small rise of.5% to 39.52. 4. 2. REGIONAL UK SUB-REGIONS HOTELS Performance change year on year LONDON However, the comparison 12 vs. 11 Months demonstrated positive Occupancy rates for all three sub regions: England 3.5%, Wales 6.4% and Scotland 1.6%. Conversely, AARR data for the regions showed a decline with Wales leading the list at -1.5%, followed by England -4.4% and Scotland -1.6%. Rooms Yield figures were also negative with England at -1.% ( 37.57); Wales at -4.8% ( 31.43); and Scotland at -.1% ( 37.57). Y-O-Y % change. -2. -4. -6. -8. -1. England Scotland Wales Greater London Inner London February 12 Rooms Yield Growth February 12 Occupancy change February 12 AARR change Inner London posted an increase on all three Key Performance Indicators (KPI s) in February. Overall Rooms Yield increased by 3.1% to 17.7 driven by an increase of 2.1% in AARR ( 1.) and Occupancy (1.%). In comparison, Greater London saw a decline on all KPI s. Rooms Yield declined by -2.1% to 37.81, driven by a -1.8% decrease in Occupancy and a - 2.2% decrease in AARR ( 55.4). Comparing cumulative data we can therefore see that Greater London was generally more stagnant that the Inner London market. While Greater London Occupancy showed a small increase of.1%, this was offset by a decline of -2.2% of AARR ( 52.1) driving the Rooms Yield down (-2.1%) to 34.99. Conversely, Inner London showed a significant increase in all KPI s. Occupancy levels rose by 1.9%, AARR by 3.2%, increasing the Rooms Yield to 13.74 (5.1% increase). Y-O-Y % change 7. 5. 3. 1. -1. -3. -5. -7. -9. -11. UK SUB-REGIONS HOTELS Performance change 12-months 12 vs 11 REGIONAL LONDON England Scotland Wales Greater London Inner London Cumulative RoomsYield Growth Cumulative Occupancy change Cumulative AARR change The overall London Hotel market segments showed mixed results for February 12. Occupancy remained the most negatively affected of the KPI s, especially within the Townhouse/Boutique hotel sector (-5.6% down from 73.1% to 66.%). Also Business and Hotels with Over Rooms experienced a decrease in Occupancy of -1.9% and of -2.9% respectively. AARR generally remained positive with good performances especially of the Under Room Hotels (6.%), Business Hotels (4.9%) and Tourist Hotels (4.5%). The only segment not having a positive indicator was the International Deluxe segment with a small contraction of -.1%. The decrease in Rooms Yield for February can be mostly attributed to the decreased Occupancy. The most affected segments remain the Townhouse/Boutique (-3.2%), the Over Rooms (-1.6%), and the International Deluxe (-.8%); while Deluxe Superior deluxe International deluxe First class Business Tourist Under rooms Over rooms Townhouse/Boutique LONDON HOTELS SEGMENTS Performance change year on year -6-5 -4-3 -2-1 1 2 3 4 5 6 7 February 12 AARR change February 12 Occupancy change February 12 Rooms Yield Growth Hotel Consultancy Services Michele Pasqui +44 765 425
the top performers for Rooms Yield being Under Rooms (5.4%), First Class (5.%), Tourist Hotels (3.3%) and Business Hotels (2.9%). Cumulative results for the London Hotel Segments overall showed a good performance. The only exceptions were the Occupancy rates of Town House/Boutique (-3.3%), Business Hotels (-1.6%) and Under Rooms (-1.3%). The International Deluxe Hotel segment showed no change in their AARR results, and a small decrease in Occupancy (-.6%) that led to a minor Yield decrease of -.6% to 125.17. For the Regional Hotels, February was a mixed month overall. The only two segments to perform well were the - 5 Bracket and the Airport Hotels. The first saw all positive KPI s with an AARR at.6%, and an Occupancy at 3.3% which led to a Room Yield increment of at 4.%, up to 29.21. Airport Hotels also showed an increase in Occupancy (2.5%) which was marginally affected by the -.1% decrease in AARR. Rooms Yield therefore increased by of 2.5% to 49.61. By comparison the Under segment suffered the most with its AARR drop of -6.7% compared to last year. However, this sector experienced a significant rise in Occupancy (7.4%), this lead to and increase in the Rooms Yield of.2% to 18.27. The aggregate outlook for the Regional Hotels showed that The Over 8, The - 8 and The 5- KPI s remained relatively unchanged. The - 5 bracket, on the other hand, experienced a decline in AARR of -.6%, but a 4.3% Occupancy increase which led a gain in Rooms Yield of a 3.6% to 26.73. The remaining segments experienced a more fluctuating behaviour. The Under was the most afflicted with a drop in AARR of -11.9%. Occupancy though increased due to the price drop of 18.2% therefore Yield being positive at 4.% ( 17.24). Country Houses, also suffered an AARR decrease of -1.%, together with a small Occupancy rise (.5%). Therefore the Rooms Yield dropped to 41.14 (-.5%). Airport Hotels also declined their AARR of -2.1%, but again, the surge in Occupancy (1.7%) was not enough, leaving a negative Rooms Yield at -.4% ( 45.26). Deluxe Superior deluxe International deluxe First class Business Tourist Under rooms Over rooms Townhouse/Boutique LONDON HOTELS SEGMENTS Performance change 12-months 12 vs 11-4 -3-2 -1 1 2 3 4 5 6 7 8 9 February 12 Cumulative AARR change Cumulative Occupancy change Cumulative RoomsYield Growth Over 8 Over to 8 Over 5 to Over to 5 Under Country House Airport hotels REGIONAL UK HOTEL SEGMENTS Performance change year on year -7-5 -3-1 1 3 5 7 February 12 AARR change February 12 Occupancy change February 12 Rooms Yield Growth Over 8 Over to 8 Over 5 to Over to 5 Under Country House Airport hotels REGIONAL UK HOTEL SEGMENTS Performance change 12-months 12 vs 11-13 -12-11 -1-9 -8-7 -6-5 -4-3 -2-1 1 2 3 4 5 6 7 8 9 1 11 12 13 14 15 16 17 18 19 Cumulative AARR change Cumulative Occupancy change Cumulative RoomsYield Growth Hotel Consultancy Services Michele Pasqui +44 765 425
In February there was a mixed distribution of key cities posting increases and decreases in Rooms Yield growth. The highest achiever was Swansea with a Rooms Yield increase of 19.6% to 44.5. This was driven by both an increase in Occupancy (16.5%) and AARR (2.5%). Swansea is therefore continuing a positive trend from January with good rates of Occupancy, probably due to the exposure on the Premier League of its football team. Also, Aberdeen (14.3), Cheltenham (17.7%), Norwich (1.2%) and Southampton (12.9%) all experienced a surge in Rooms Yield. This was mainly due to a leap in Occupancy, with Cheltenham leading the way with an increase of 25.7%. The Occupancy surge could be attributed to the increasing number of staycations experienced over the February half-term, the continued recovery of the corporate market and of the continued decreased AARR by -6.3% to 53.54. Conversely, Solihull BHX Airport and Chester showed the greatest decrease in Rooms Yield at -17.5% to 51.47 and -14.% to 3.5 respectively. Both cities being affected by a contraction in AARR and Occupancy. Solihull Occupancy decrease of -14.2%, while its AARR was down of -3.9%. Chester, on the other hand, was affected by a decrease of -9.% in AARR and of -5.4% in Occupancy. Aberdeen Bath Belfast Birmingham Blackpool Bournemouth Brighton Bristol Cambridge Cardiff Cheltenham Chester Coventry Derby Edinburgh Gatwick Glasgow Heathrow & Slough Inverness Leeds Leicester Liverpool Luton Maidstone Manchester Milton Keynes Newcastle Northampton Norwich Nottingham Oxford Plymouth Portsmouth Reading Sheffield Solihull+BHX Airport Southampton Stoke Stratford-upon-Avon Swansea Swindon Windsor York REGIONAL UK MARKETS Annual Rooms Yield Growth -18-16 -14-12 -1-8 -6-4 -2 2 4 6 8 1 12 14 16 18 22 24 YTD February 12 Hotel Consultancy Services Michele Pasqui +44 765 425
PKF Monthly Trends London Month end February Year to date Hotel type/ Available Occupancy (%) AARR ( ) Rooms Yield ( ) Occupancy (%) AARR ( ) Rooms Yield ( ) location rooms/day 12 11 % ch. 12 11 % ch. 12 11 % ch. 12 11 % ch. 12 11 % ch. 12 11 % ch. AARR De luxe > 15 12,45 75.2 75.3 -.1 211.86 9.22 1.3 159.32 157.48 1.2 72.8 72.1 1. 213.61 7.38 3. 155.51 149.58 4. Superior deluxe > 5,75 72.7 72.1.8 263.1 257.94 2. 191.21 186.5 2.8 71.1 69.1 2.9 262.32 252.99 3.7 186.51 174.87 6.7 International deluxe > 15 to 6,75 77.4 77.9 -.7 17.93 171.4 -.1 132.3 133.31 -.8 74.5 74.9 -.6 168.1 168.6. 125.17 125.94 -.6 First class > 1 to 15 12,7 79.2 75.8 4.5 116.97 116.42.5 92.64 88.23 5. 77.4 73.9 4.7 114.44 114.4.4 88.58 84.29 5.1 Business > 75 to 1 4,35 72.4 73.8-1.9 93.41 89.4 4.9 67.63 65.74 2.9 71.9 73.1-1.6 92.91 87.78 5.8 66.8 64.16 4.1 Tourist under 75 5,15 71.8 72.7-1.2 7.76 67.69 4.5 5.81 49.18 3.3 69. 69.3 -.4 71.38 68.71 3.9 49.25 47.59 3.5 Under rooms 3, 7.4 7.8 -.6 7.88 66.86 6. 49.9 47.33 5.4 67.5 68.4-1.3 69.32 66.98 3.5 46.79 45.83 2.1 Over rooms 1,55 74.9 77.1-2.9 7.48 69.53 1.4 52.79 53.64-1.6 71.8 71.1 1. 74.95 72.39 3.5 53.81 51.48 4.5 Townhouse/Boutique 8 69. 73.1-5.6 252.5 245.92 2.5 173.91 179.72-3.2 67.8 7.1-3.3 256.7 237.3 8.3 174.4 166.23 4.7 Greater London 4,1 68.7 7. -1.8 55.4 55.14 -.2 37.81 38.57-2. 67.2 67.1.1 52.1 53. -2.2 34.95 35.7-2.1 Inner London 35,5 76.6 75.8 1. 1. 137.74 2.1 17.7 14.42 3.1 74.9 73.5 1.9 138.51 134.27 3.2 13.74 98.68 5.1 All London hotels 39, 75.7 75.2.7 132.61 129.78 2.2 1.39 97.59 2.9 74.1 72.8 1.8 13.2 126.27 3. 96.34 91.92 4.8 Regional UK Month end February Year to date Hotel type / location Available Occupancy (%) AARR ( ) Rooms Yield ( ) Occupancy (%) AARR ( ) Rooms Yield ( ) rooms/day 12 11 % ch. 12 11 % ch. 12 11 % ch. 12 11 % ch. 12 11 % ch. 12 11 % ch. Regional UK Total 97,45 65.1 64.4 1.1.91 61.58-1.1 39.64 39.69 -.1 61.6 59.4 3.7 57.37.2-4.4 35.32 35.67.9 England 81,55 65. 64.3 1.1.8 61.12 -.5 39.52 39.31.5 61.5 59.4 3.5 57.21 59.82-4.4 35.18 35.56-1. Scotland 12,75 64.3 65.9-2.4 64.43 64.29.2 41.43 42.34-2.2 61.3.3 1.6 61.29 62.3-1.6 37.57 37.59 -.1 Wales 3,15 65.9 64.2 2.6 56.1 61.9-9.4 36.97 39.76-7. 61.2 57.5 6.4 51.35 57. -1.5 31.43 33.1-4.8 AARR Over 8 16, 66.8 67.8-1.5 92.44 92.47. 61.75 62.73-1.6 63.4 63.4. 91.54 91.37.2 58.4 57.93.2 Over to 8 35,1 65.7 66.7-1.4 68. 67.44 1.7 45.7 44.96.3 62.6 62.6.1 67.45 66.83.9 42.22 41.81 1. Over 5 to 15,5 64.2 65.4-1.8 55.38 55.18.4 35.55 36.8-1.4.9.7.3 54.76 54.68.1 33.35 33..5 Over to 5 5, 62.8.8 3.3 46.51 46.23.6 29.21 28.9 4. 58.1 55.7 4.3 46. 46.29 -.6 26.73 25.79 3.6 Under 2,55 55.3 51.5 7.4 33.4 35.41-6.7 18.27 18.23.2 54.4 46. 18.2 31.69 35.99-11.9 17.24 16.57 4. Airport hotels 11,8 71.3 69.5 2.5 69.58 69.63 -.1 49.61 48.42 2.5 68.5 67.3 1.7 66.8 67.49-2.1 45.26 45.45 -.4 Country house 5,7 59. 59.8-1.3 75. 76.4-1.1 44.37 45.44-2.4 54.9 54.6.5 74.94 75.72-1. 41.14 41.37 -.5 Based on the Average Achieved Room Rate (AARR) in 11. Available rooms/day relates to 12 figures only and is rounded to the nearest 5. AARR and Rooms Yield values are Net of VAT. Differences may be due to rounding.
PKF Monthly Trends Regional UK Month end February Year to date Available Occupancy (%) AARR ( ) Rooms Yield ( ) Occupancy (%) AARR ( ) Rooms Yield ( ) Hotel type / location rooms/day 12 11 % ch*. 12 11 % ch*. 12 11 % ch*. 12 11 % ch.* 12 11 % ch*. 12 11 % ch*. Aberdeen 1,65 77.1 74.5 3.5 77.14 69.85 1.4 59.47 52.2 14.3 73. 67.6 8. 75.56 69.12 9.3 55.16 46.7 18.1 Bath 3.6 66.3-8.6 77.4 79.92-3.6 46.69 52.98-11.9 58.3 59.7-2.4 68.56 73.46-6.7 39.97 43.87-8.9 Belfast 1,1 62.6.4 3.7 61.89 62.97-1.7 38.74 38.1 1.9 62.2 56.6 1. 59.28 62.15-4.6 36.87 35.16 4.9 Birmingham 2, 65.3 65.2.1 53.38 57. -7.3 34.86 37.57-7.2.2 58.7 2.6 5.35 55.33-9. 3.31 32.47-6.6 Blackpool 8 52.7 52. 1.3 59.85 59.35.8 31.54 3.87 2.2 53.9 5.1 7.6 59.52.5 -.9 32.8 3.9 6.6 Bournemouth 9 57.3 61.2-6.3 54.79 54.88 -.2 31.39 33.58-6.5 54.5 53.7 1.5 49. 53.76-8.1 26.92 28.86-6.7 Brighton 1,8 61.4.4 1.7 73.53 74.73-1.6 45.15 45.13. 58.5 54.2 7.9 71.78 72.89-1.5 41.99 39.52 6.3 Bristol 1,85 69.3 71.4-3. 68.5 69.7-1.5 47.16 49.32-4.4 66.9 64.3 4.1 63.89 67. -4.9 42.74 43.19-1. Cambridge 1,45 75.4 72.7 3.7 78. 76.66 2.5 59.26 55.74 6.3 7.7 68.3 3.5 76.44 75.3 1.9 54.4 51.28 5.4 Cardiff 1,55 69.4 71.6-3.1 69.84 75.87-7.9 48.47 54.32-1.8 64.3 65.7-2.2 64.85 69.39-6.5 41.7 45.61-8.6 Cheltenham 76.1.5 25.7 53.54 57.17-6.3.74 34.61 17.7 7. 53.5 3.9 47.57 56.22-15.4 33.3 3.6 1.8 Chester 75 56.9.2-5.4 52.81 58.6-9. 3.5 34.93-14. 53.5 53.6 -.2 52.11 57.33-9.1 27.88 3.73-9.3 Coventry 95 58.7 62.5-6.1 57.17 57.8.2 33.56 35.69-6. 55.2 57.4-3.9 53.57 55.34-3.2 29.57 31.78-7. Derby 65 59.1 56.1 5.3 46.57 5.14-7.1 27.52 28.15-2.2 55.5 5.5 9.9 44.86 5.37-1.9 24.9 25.43-2.1 Edinburgh 3, 66.8 65.6 1.9 69.18 7.55-1.9 46.21 46.25 -.1 63.9.3 6. 63.46 67.34-5.8.55.61 -.1 Gatwick 2,8 73.5 66.3 1.8 69.12 72.9-4.1 5.8 47.81 6.3 71.6 65.2 9.8 67.69 7.46-3.9 48.47 45.95 5.5 Glasgow 3, 69.4 7.9-2.1 58.16 59.6-1.5.36 41.86-3.6 66.1 66.6 -.7 55.35 56.87-2.7 36.59 37.86-3.4 Heathrow & Slough 6,1 72.9 71.7 1.6 75.34 74.53 1.1 54.92 53.45 2.7 69.8 68.9 1.4 7.67 71.5-1.2 49.33 49.23.2 Inverness 35 7.1 62.8 11.6 42.89 45.44-5.6 3.7 28.54 5.3 65.1 55.2 17.9 37.97 43.96-13.6 24.72 24.27 1.9 Leeds 2,5 69.7 72.9-4.4 56.68 57.35-1.2 39.51 41.8-5.5 65.9 66.7-1.2 53.53 56.58-5.4 35.28 37.73-6.5 Leicester 95 58.6 62.3-5.9 59.4. -1.9 34. 37.48-7.7 58. 57.8.4 55.29 59. -6.9 32.7 34.3-6.5 Liverpool 1,8 63.7 67.6-5.8 65.84 65.12 1.1 41.94 44.3-4.8 61.2 62.9-2.7 61. 62.61-1.9 37.58 39.38-4.6 Luton 7 66.5 63.9 4.1 57.5 55.91 2. 37.94 35.72 6.2 63.5.2 5.5 55.3 52.68 5. 35.12 31.72 1.7 Maidstone 8 63.9.5 5.6 56.23 57.82-2.7 35.93 34.98 2.7 62. 58. 6.9 54.37 57.42-5.3 33.71 33.3 1.2 Manchester 5,15 75.7 73.5 3. 71.9 71.74.2 54.43 52.74 3.2 7.8 67.5 4.9 66.7 69.74-5.3 46.78 47.8 -.6 Milton Keynes 95 72.3 69.7 3.8 61.41 59.24 3.7 44. 41.27 7.6 68.8 65.8 4.6.57 59. 2.3 41.67 38.95 7. Newcastle 2,5 71.2 71.6 -.5 66.1 66.93-1.2 47.6 47.91-1.8 66.8 65.8 1.6 62.22 64.38-3.4 41.56 42.33-1.8 Northampton 55 65.1 61.2 6.4 61. 61.59-1. 39.71 37.7 5.3 62.6 58.8 6.5.74.59.2 38.2 35.62 6.7 Norwich 8 67.4.1 12.2 58.49 59.35-1.4 39.42 35.65 1.6 61.6 56.9 8.2 56.71 58.57-3.2 34.93 33.33 4.8 Nottingham 1, 61.3 64.5-4.9 54.7 51.93 4.1 33.14 33.48-1. 56.6 58.8-3.7 52.12 51.89.4 29.5 3.51-3.3 Oxford 45 66. 72.7-9.2 72. 71.16 1.7 47.78 51.7-7.6 63. 63.1 -.1 66.39 68.79-3.5 41.83 43. -3.6 Plymouth 73.3 7. 4.8 48.56 46.86 3.6 35.59 32.78 8.6 64.7 61.3 5.6 47.1 46.68.7 3.42 28.59 6.4 Portsmouth 85 65.4 65.6 -.3 65.17 62.28 4.6 42.62.86 4.3 63.4 63.5 -.1.63 61.74-1.8 38.44 39.19-1.9 Reading 1, 61.9 59.7 3.7 7.13 68.59 2.2 43.41.94 6. 58.9 57.5 2.5 67.8 66.18 2.4 39.93 38.3 5. Sheffield 9 65. 69.3-6.2 57.84 53.79 7.5 37. 37.25.9 65. 65.9-1.4 54. 51.46 5.7 35.36 33.92 4.3 Solihull & Birmingham Airport 2,35 58.7 68.4-14.2 87.68 91.23-3.9 51.47 62. -17.5 56.1 63.2-11.2 85.23 89.51-4.8 47.81 56.53-15.4 Southampton 1,25 67.7.5 11.9 55.23 54.73.9 37.39 33.11 12.9 61.4 56.8 8.2 54.74 55.39-1.2 33.61 31.43 6.9 Stratford-upon-Avon 9 62.1 59.7 4.1 65.88 63.74 3.4.91 38.2 7.6 55.8 54.6 2.2 63.78 64.59-1.3 35.59 35.27.9 Swansea 3 76.1 65.3 16.5 57.88 56.41 2.6 44.5 36.84 19.6 71.2 59.4 19.9 56.23 54.44 3.3.4 32.33 23.8 Swindon 1,1 55.9 58.4-4.2 58.34 57.83.9 32.61 33.76-3.4 54.9 55.3 -.7 59.3 58.19 1.4 32.41 32.18.7 Windsor 35 62.9 62.7.4 67.45 67.63 -.3 42.43 42.38.1 59.6 59.2.8 65.32 67.6-2.6 38.93 39.67-1.9 York 7 73.4 7.7 3.8 61.79.89 1.5 45.35 43.4 5.4 69.4 63. 1.1 56.29 58.89-4.4 39.7 37.11 5.3 Based on the Average Achieved Room Rate (AARR) in 11. Available rooms/day relates to 12 figures only and is rounded to the nearest 5. AARR and Rooms Yield values are Net of VAT. * Differences may be due to rounding.