In London profit growth was even greater, with daily IBFC PAR climbing to £79.53, a 15.4 per cent improvement. Such a strong rise in profitability was driven by the capital's hoteliers achieving the highest average rate ever.

Birmingham profit far outstrips Provincial average

Chain hotels in Birmingham had a particularly good October with the IBFC PAR improvement far outstripping average provincial growth. IBFC PAR was up by a massive 29 per cent to £59.24 in Birmingham, representing an impressive 43.5 per cent of total revenue, a 7.8 point improvement on last year.