RBH Hospitality Management reports significant increases in performance for Q3, with hotels across the portfolio seeing as much as a 95% rise in occupancy rates in rural areas.
The significance of the staycation trend this summer has seen less traditional tourist destinations flourish, with an average occupancy of between 78-87% between July and September 2021 in areas such as Middlesbrough, Barrow, Doncaster and Cheltenham. While London has seen an encouraging but slower recovery, cities such as Edinburgh and Cardiff have seen promising acceleration over the summer months.
The portfolio reached an overall occupancy of 70%, putting them 10 points ahead of the market for Q3 (source STR). Encouragingly, RBH’s occupancy was just 10 points short of the portfolio’s pre-pandemic 2019 occupancy.
The management company, with a portfolio of nearly 50 hotels across the UK following two recent Glasgow and London openings, reports a continually growing demand for group business, which this quarter has accounted for 12% of bookings – double that of last year. Average lead time for bookings has remained very low – a week or less – up until the past month when a rise in consumer confidence has meant longer bookings of up to two months as we head into the festive season.
Holiday Inn Express properties have been consistently high performers as consumers have welcomed convenience, value and flexible booking terms. Across the entire portfolio, average RevPAR has risen by 131% compared to the same period last year, surpassing the company’s target for recovery. The strength of demand and recovery is also evidenced by RBH’s ADR of £85 which is ahead of 2019, demonstrating the success of its commercial strategy.
Commenting on RBH hotels’ Q3 performance, Chris Martin, Group Director of Revenue said:
“The repercussions of Brexit and the pandemic continue to have a significant impact on international travel to the UK, but domestic travel has boomed since the lifting of government-led restrictions in July and August across England, Scotland and Wales. We are seeing a steady and continual rise in consumer confidence as progress with vaccinations continues and lead times for bookings have become noticeably longer.
“It’s been a successful quarter for the growing portfolio, surpassing a number of revenue-based targets and an encouragingly strong start for our two newest properties – The Corner London City and Pocotel Glasgow City Centre. We’re now focusing on expanding our London presence this Autumn, with two additional openings on the horizon – Gantry London, Curio Collection by Hilton and Westin London City.”
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