In the period covered whilst room availability grew by about 4.1%, occupancy grew to today’s average 86%. Rates have climbed too, but this is against a background of London tourism growing by over 30% over the period. The dumping of poor quality rooms from the market place is good for standards but the upward movement of those standards is creating demand for different sorts of hotel provision at all star levels, resulting in the growth of new budget brands such as
Yotel and
nitenite as well as an increase and facilities creep in the lower and mid market range characterised by
Travelodge and
Holiday Inn Express. At the top end growth in demand now appears to be in the ‘super luxury’ bracket for suite hotels and aparthotel. Thus hotels like
Shire Hotels the Stafford add not just extra rooms but extra suites to an already generous proportion of their rooms in this bracket. It is this market that the Plaza on the River is a part of, and where it is experiencing big demand, as it enjoys high occupancy rates.