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LONDON-The slump in international travel in the run-up to war in Iraq hit the London hotels market hard, according to a new survey from hotels consultant KPF. Occupancy dropped 10.3% to 67.1% in London during March 2003, while the average room rate fell 4.1% to £88.22.

The combined effect of these decreases was to push the capital’s rooms yield down to £59.22 ($93), a drop of 14% compared to March 2002. Regional hotels saw less dramatic changes due to their reliance on domestic trade, but even so occupancy fell 0.4% to 67.8%

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