Get free updates - subscribe to our monthly newsletter Subscribe
Hotels in the Lake District have enjoyed a busy summer, in stark comparison to the previous year. The average room rate achieved by hotels in the Lake District for June 2013 was £101 which compares with £61 for June 2012. This is a huge increase, but we must remember that last summer the Olympics and terrible weather led to many hotels reducing their room rates in a bid to increase occupancy levels. This information comes from a survey that was run by Armstrong Watson during July 2013, specifically for hotels in the Lake District. We work closely with a number of hotels in this area and we wanted an opportunity to give hotels valuable insights into how the market was performing as a whole and also share our expertise in this area.
Our survey also found that hoteliers attitude towards the summer was positive. All respondents said they expect summer 2013 to be as successful or more successful than the year before. This is supported by a rise in margins from food and drink, which are already around 5-10% higher than the national average. Similarly, staff costs are being kept under control and represent just over 30% of turnover. This is consistent with the statistics from the previous year.
Occupancy and bookings have been consistently strong throughout summer 2013 too. At the start of July 2013, our respondents already had bookings for over 75% of their rooms for every night throughout the whole of July and August. These occupancy levels will have increased significantly with last minute bookings throughout the remainder of the summer. National statistics show that occupancy levels are normally in the region of 67% for the UK as a whole, so this shows what a sought after destination we have in the Lake District.
It’s also good to see that it’s not only those from the UK that appreciate the beauty of the area. Our survey shows that hotels in the Lake District attract a range of international visitors. Just over 60% of hotels reported having Japanese visitors, which shows the importance of our overseas visitors. Many hotels also reported having visitors from America, Australia, China and The Netherlands.
The survey is part of an ongoing project of quarterly surveys of the industry in the Lake District and the full survey report is available free at www.armstrongwatson.co.uk/lakedistricthotels. Our survey report not only analyses the findings, but offers tips for hoteliers on attracting overseas visitors, increasing their margins, upselling and more, and is free to download from our website at any time. The next survey is due to run in the Autumn, if you would like to take part then please email firstname.lastname@example.org
Richard Andrew, Senior Manager
If you like this article and would our FREE updates sent straight to your inbox then subscribe to our monthly newsletterSubscribe
All content © 2015 Armstrong Watson. All Rights Reserved. Website by Simon Pighills.
Armstrong Watson LLP is a limited liability partnership registered in England and Wales, number OC415608. The registered office is 15 Victoria Place, Carlisle, CA1 1EW where a list of members is kept. Armstrong Watson Accountants, Business & Financial Advisers is a trading style of Armstrong Watson LLP. Armstrong Watson LLP is regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities.
Armstrong Watson Audit Limited is registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales. Registered as a limited company in England and Wales No. 8800970. Registered office: 15 Victoria Place, Carlisle, CA1 1EW
Armstrong Watson Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. Firm reference number 542122. Registered as a limited company in England and Wales No. 7208672. Armstrong Watson Financial Planning & Wealth Management is a trading name of Armstrong Watson Financial Planning Limited. Registered Office: 15 Victoria Place, Carlisle, CA1 1EW