Revenue per available room (revPAR) and profits are on the rise in UK hotels, according to recent reports, giving experts reason to suggest that hotels are now 'out of the worst'.
HVS London and Zolfo Cooper's latest Hotel Bulletin, which focuses on Q3 of 2013, found that there had been an average increase in revPAR of eight percent at hotels outside of London. Average profits were up by 3%.
In the capital, revPAR actually decreased by 3%, although September's revPAR was up 9% compared to the same period in 2012.
The ongoing feel-good factor of the Olympics and fine weather experienced this year has certainly helped boost hotel trade this year, and HVS London director Tim Smith has claimed the sector is now 'over the worst'.
Bank funding is also now 'relatively accessible', according to the report, although it was noted that most new openings were limited to budget hotels.
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