Hotel occupancy rates in Milton Keynes rose to 82 per cent in July 2011, up from 79 per cent in the same month last year and further improvement in 2012 is expected, according to leisure sector experts at business services firm PwC.
While a further growth in occupancy rates of around three per cent is expected next year, prospects for hoteliers in the Milton Keynes area and other UK regions are less promising than in London, where the sector has experienced a bumper summer and is looking forward to benefiting from next year’s Olympic effect.
Further improvements were evident for hoteliers in Milton Keynes in July. The average daily rate (ADR) for hotel rooms in the new city rose slightly to £65 in July 2011, up from £58 in the same month last year. Revenue per room (RevPAR) also rose slightly – to £53 in July 2011 from £46 for the same month in 2010.
According to the data, Milton Keynes was one of just six UK towns and cities outside London to see growth in occupancy rates in July 2011. The other cities were Brighton, Glasgow, Manchester, Nottingham and York.
Matthew Mullins, partner and hospitality and leisure sector expert at PwC’s Milton Keynes office, said: “This will be a welcome boost for local hoteliers and leisure sector investors who have experienced difficult trading conditions as a result of the downturn.
“While London has been leading the sector’s recovery to date, 2012 should be a better year for hoteliers outside the capital too. To some extent, the Olympic uplift will also be felt locally.”
The findings are based on data provided by STR Global.