Region’s hotels outperform London’s for the first time in 14 years

HOTELS in Yorkshire have reportedly had an impressive 2014, outperforming their London opposites in terms of revenue growth.

According to a report by BDO, named Hotel Britain 2015, hotels in Leeds, Sheffield, York and Bradford all saw rooms yield (or revenue per available room) increase.

Leeds and Sheffield saw a rise of around 16% each, whilst York hotels’ room yield rose 11.8%, and Bradford’s 9.7%.

By comparison, London hotels experienced a modest 0.7% increase in rooms yield.

All four Yorkshire cities also recorded an increase in the average price paid per room. Leeds prices rose to £64.11 (up 15.6% on the previous year), in York they were up 7.6% to £62.77, for Sheffield £43.90 (16.5% increase) and Bradford a 5.7% increase to £38.71.

Strong demand pushed overall UK regional hotels’ occupancy to 75.1% – the first time it has surpassed 75% for over ten years. York was the best performing city outside of London, operating at an impressive 82%.

Tom Roseff, director at BDO LLP in Yorkshire said: “For the first time in 14 years, regional hotels have outperformed their London counterparts and Yorkshire has been a key player in that success story; particularly Leeds and York.

“Sheffield and Bradford’s investment in the budget segment of the market has also clearly paid dividends.

“The phenomenal occupancy levels across the region reflect both increasing consumer confidence as well as the significant boost to the local economy arising from last year’s Le Grand Depart.

“We expect the sector to continue on this upward trajectory, particularly with the upcoming Tour de Yorkshire.”