PwC Data Indicates Belfast's Hotel Sector Has Experienced Second Worst Revenue Decline Out Of 22 UK Cities
According to professional services firm PwC, Belfast's hotel sector has experienced the second worst decline in revenues due to the continuing COVID-19 pandemic out of 22 UK cities, with the city's ro...
According to professional services firm PwC, Belfast's hotel sector has experienced the second worst decline in revenues due to the continuing COVID-19 pandemic out of 22 UK cities, with the city's room revenue declining to £22.50 per night.
As reported by The Irish News, PwC data indicates that hotel occupancy in Belfast decreased by 54.6% year-on-year in July to 21.4%, with the average daily rate decreasing by 25% to £71.96.
During the year that ended on July 31, 2020, revenue per available room (RevPAR) in Belfast declined from £55.88 to £22.48, which was below the UK regional average of £22.56, according to PwC. Previously, Belfast RevPAR had been above the UK regional average, which was £53.12.
"Imperative That Hotels Ready Themselves For A Difficult Winter"
The Irish News quotes PwC UK hotels leader Sam Ward as saying, "Amid so much uncertainty, it's imperative that hotels ready themselves for a difficult winter and act swiftly to demonstrate their adaptability.
"This is the time for hoteliers to look at their business model and find ways to cut costs. Those who can shift their focus to new customers, reorganise their operations and find innovative solutions stand the best chance of weathering the storm."
© 2020 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.