Scottish Hotel Occupancy & Revenues Take a Dip
Revenue and occupancy levels in Scottish hotels fell in October, albeit at a lower rate than in the rest of the UK, according to PKF Accountants. During October, rooms yield in Scotland fell by 4.2%compared to a UK fall of 6.5%. Meanwhile, occupancy levels fell by 3.7% compared to a fall of 5.2% for the UK as a whole. The rate of decline in both occupancy and rooms yield appears to be slowing in Scotland over the third quarter of the year.
However, whilst all three of Scotland's main cities experienced falls in occupancy, Aberdeen's hotels managed an increase of 3.3% in rooms yield during October.
Alastair Rae, a partner at PKF, explains: 'Given the difficult economic times we live in, this drop in occupancy and rooms yield for Scottish hotels is perhaps better than might have been expected.
'Indeed, Aberdeen hoteliers are showing considerable resilience in being able to increase their rooms yield at a time of declining occupancy, indicating that there are still revenues to be made in this difficult market.'
However, whilst all three of Scotland's main cities experienced falls in occupancy, Aberdeen's hotels managed an increase of 3.3% in rooms yield during October.
Alastair Rae, a partner at PKF, explains: 'Given the difficult economic times we live in, this drop in occupancy and rooms yield for Scottish hotels is perhaps better than might have been expected.
'Indeed, Aberdeen hoteliers are showing considerable resilience in being able to increase their rooms yield at a time of declining occupancy, indicating that there are still revenues to be made in this difficult market.'
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