City of London
Boasting an impressive 10.8% increase in luxury hotel room occupancy alongside a marked 23.6% increase in average daily rates, the hotel industry in London has been riding a wave of success that leaves analysts wondering where the business will go next with no major events planned for 2013. Many tantalizing possibilities lay over the horizon for travelers to London, but it remains to be seen which strategy the industry will use to draw in new customers.
With nearly 4,000 luxury hotel rooms having opened in London since 2005, the capital now has a challenge on its hands in the years ahead, according to accountants PwC.
The London 2012 Olympic Games was the catalyst for the development on a scale unlikely to be seen again, with the number of luxury bedroom increasing from 11,430 in 2005 to 15,220 this year, while the budget sector has grown from 16,300 rooms to 26,000 during the same period.