City hotels reap Culture Year visitors bonanza.
LIVERPOOL'S hosting of the MTV Europe Music Awards The MTV Europe Music Awards were established in 1994 by MTV Europe to celebrate the most popular music videos in Europe. Originally beginning as an alternative to the American MTV Video Music Awards, the MTV Europe Music Awards is today a popular celebration of what MTV viewers in November led to a surge in occupancy and room rates at the city's hotels during the month.
Figures from Liverpool accountancy firm PKF PKF Peace Keeping Force
PKF Pannell Kerr Foster (accounting firm)
PKF Park Falls, Wisconsin (Airport Code) show the hotels beat regional UK averages and their own performance of a year earlier across all major indicators.
The city's occupancy rate in November was the highest in the UK, at 81.7%, and easily beat the regional UK average of 69.4%, as well as its own figure of 79% 12 months previously.
Liverpool's average room rate in the month of pounds 88.68 comfortably outstripped the regional UK figure of pounds 75.41. It also exceeded the pounds 82.54 the city achieved a year earlier.
The city's November rooms yield - the revenue made on each available room - of pounds 72.45 was also the highest in the UK, topping the regional UK average of pounds 52.31 by more than pounds 20.
PKF partner Jane Jackson said: "The statistics leave no room for doubt that Liverpool's hotels had another great month in November, as they continued to benefit from the Capital of Culture status, beating UK averages and their own performance of a year earlier across all indicators."
However, despite the Capital of Culture boom continuing until the end of 2008, hoteliers will be bracing themselves for a sharp downturn this year.
Culture dividend . . . Sir Paul McCartney Noun 1. Paul McCartney - English rock star and bass guitarist and songwriter who with John Lennon wrote most of the music for the Beatles (born in 1942)
McCartney, Sir James Paul McCartney at the MTV MTV
in full Music Television
U.S. cable television network, established in 1980 to present videos of musicians and singers performing new rock music. MTV won a wide following among rock-music fans worldwide and greatly affected the popular-music business. European Music Awards, held at the Echo Arena Liverpool Picture: JASON ROBERTS