Revealed: American tourists to outspend Britons at top-end London hotels during the Coronation weekend… and room rates are nearly one third more expensive than usual
Americans are set to outspend British guests at top-end London hotels during the Coronation weekend with U.S visitors accounting for 32 per cent of all booking revenue and UK travellers 31 per cent.
Typically, U.S guests account for just 24 per cent of booking spend, while Britons account for 34 per cent.
The data, sourced from the AI-powered hotel booking platform allora.ai, also shows that visitors from Canada account for five per cent of four and five-star hotel bookings for the Coronation weekend on May 6-7.
Australians, meanwhile, account for four per cent.
Overall, hotel revenue is up a whopping 54 per cent on the same time last year, and the average daily room rate for the weekend is 28 per cent higher than this time last year, reflecting the increased demand.
Americans are set to outspend British guests at top-end London hotels during the Coronation weekend. Above – guards marching in front of Buckingham Palace
Lead times for bookings over the Coronation weekend have increased by 47 per cent – most people have secured their stay at least three months in advance.
But it’s not all good news for hoteliers, as a constant concern is the threat of cancellations, which can run as high as 40 per cent through some booking channels.
Commenting on the data, Michael De Jongh, chief commercial officer at allora.ai, said: ‘The King’s Coronation is giving a much-needed boost to the London four and five-star hospitality sector, which really suffered because of Covid.
‘The fact that the Coronation has really caught the imagination of visitors from the U.S is a real added bonus for London hoteliers, as they are far more likely to make use of the hotel’s facilities, such as the restaurant or spa. In short, U.S guests spend a good deal more than domestic ones.’
De Jongh isn’t surprised by the hike in room rates. He said: ‘It makes complete sense that the increased pressure on rooms has led to a rise in the daily room rate – and when you factor in the rate of inflation, the hotels in the allora.ai network have definitely kept their price increases reasonable.
‘We’ve heard of price hikes of 60 per cent or more from other hotels, which is just outrageous and certainly doesn’t encourage long-term guest loyalty.’
Visitors from Canada account for five per cent of four and five-star hotel bookings for the Coronation weekend
Touching on potential hotel-stay cancellations, he continued: ‘The reality is that a booking isn’t guaranteed until the guest actually arrives at the hotel. There’s a growing trend of guests from the U.S and elsewhere to book rooms at multiple hotels and cancelling all but one at the last minute. The reality is that if a guest cancels just before they’re due to stay it’s highly probable their room won’t be filled.
‘These last-minute cancellations could create real problems for London hotels, as the reality is these rooms won’t be filled. They could add up to tens of millions of pounds in lost revenue across the capital.’
De Jongh urges holidaymakers to think carefully before cancelling. ‘If you do have to cancel for any reason, I urge you to give the hotel as much notice as possible or, better still, move the booking to an alternative date,’ he said.