This year has been the best for the hotel industry since recession and the Gulf War. BDO Hospitality Consulting, of London, expects average occupancy rates of 72% this year and average room rates are forecast to rise to £54 from £50 last year.
Lack of significant new hotel development has constrained supply. Plans by hotel and property companies to build new hotels and add rooms to existing buildings have increased this year.
- Financial Times 18/12/96 page 8
