The performance of regional hotels was a little more encouraging with only a 1.7% drop in occupancy and a 1.5% increase in room rate year-on-year.
Although room occupancy levels in London have been falling since the beginning of 2001, largely as a result of the downturn in the US economy, the further plunge in occupancy levels experienced since 11 September is directly attributable to the fall off in US visitors in the aftermath of the atrocities. The number of hotel rooms occupied by American visitors during the whole month dropped by 45.5% although the percentage fall after 11 September is likely to be much higher.
There was also a 39% drop in the number of rooms occupied by Japanese visitors although the domestic market was unaffected and other markets were broadly in line with the prevailing trends throughout this year.
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