The flexibility of London's workers within the travel and tourism industry appears to be the defining factor in it's success during the past few months...
A report just out by TRI Hospitality Consulting shows this as a significant factor in the profit/loss indicators within hotels in particular...
Jonathan Langston, managing director, TRI Hospitality Consulting, stated: "Whilst the decline in occupancy levels seems to be stabilising across Europe, there is still significant downward pressure on average room rates, particularly in markets heavily reliant on leisure demand..."
As a result of diluted revenue levels across Europe, all of the markets surveyed experienced declines in profitability levels in the 10 months to October 2009. London was the only market in Europe where hoteliers were able to reduce payroll levels in the face of diminished revenues due to the flexibility of the British workforce. Five out of the ten markets surveyed experienced declines of approximately 35% or more in profit per available room (GOP PAR). Whilst the pace of decline in profitability moderated in October 2009, all markets surveyed experienced declines in profit per available room (GOP PAR)...
Read more at http://www.traveldailynews.com/pages/show_page/34481-London-defies-gloom-as-Europe-continues-to-decline
Barticus.
A report just out by TRI Hospitality Consulting shows this as a significant factor in the profit/loss indicators within hotels in particular...
Jonathan Langston, managing director, TRI Hospitality Consulting, stated: "Whilst the decline in occupancy levels seems to be stabilising across Europe, there is still significant downward pressure on average room rates, particularly in markets heavily reliant on leisure demand..."
As a result of diluted revenue levels across Europe, all of the markets surveyed experienced declines in profitability levels in the 10 months to October 2009. London was the only market in Europe where hoteliers were able to reduce payroll levels in the face of diminished revenues due to the flexibility of the British workforce. Five out of the ten markets surveyed experienced declines of approximately 35% or more in profit per available room (GOP PAR). Whilst the pace of decline in profitability moderated in October 2009, all markets surveyed experienced declines in profit per available room (GOP PAR)...
Read more at http://www.traveldailynews.com/pages/show_page/34481-London-defies-gloom-as-Europe-continues-to-decline
Barticus.
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