Occupancy levels in the London hotel market increased by 1.5% in May 2009 compared with the same period last year. Whilst average room rate declined by 5.4%, London hoteliers were able to decrease their payroll expenses by 1.6%, resulting in a decline of just 2.9% in profit per available room (IBFC).
Swiss real estate group Investis has boosted its real estate holdings with the CHF 139 mln (€149 mln) purchase of prime residential properties in Vaud canton.
