Steep fall in revenues at Heathrow and Gatwick hotels
20.10.09
Hotels at Gatwick and Heathrow continue to experience some of the steepest declines in revenues across the UK, with revenue per available room (revPAR) falling 22% at each airport, according to a new Deloitte industry review.
Lower passenger traffic is hitting demand for hotel nights, with numbers at Gatwick down 8.9% in the year-to-August. However, during August, Gatwick grew its domestic and European traffic and, if this is sustained, it should have a positive knock on affect on hotel demand in due course.
Heathrow's passenger traffic dropped 2.6% year-to-August, but hotel performance has been hit due to the new room supply that entered into the market with the opening of Terminal 5 last year, including the giant new 600 room plus Sofitel.
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