Occupancy in the capital dropped below 60% during April, the first time that has happened since PKF began its monthly reports on the sector.

The 14.7% fall to 59.8% meant occupancy rates were at their lowest since 1991, when occupancy hit 61.9%.

Average room rate also continued to fall, down by 10.6% to £87.42, and rooms yield dropped 23.7% to £52.30, said PKF.

There was a marked decline in the number of visitors from the US and Japan, with the percentage decrease “well into double digits”, it added.

Outside the capital, however, it was a different story, with occupancy levels holding up surprisingly well.

Regional hotels reported similar occupancy levels to last year, with just a 0.7% dip, to 68.2%.

Average room rate fell 7.7% to £58.16, most likely because of the Easter weekend boosting the number of domestic guests at the expense of higher-paying foreign tourists, suggested PKF. Rooms yield was down 8.4% at £39.67, it added.

With the critical summer period approaching, it was impossible to say when the gloom would end. “It is simply far too early to really know whether this is the bottom of the market,” said Melvin Gold, managing director of hotel consultancy services.

“With continued uncertainty in economic and political situations around the world, we can only say that it is certainly a low point, but whether it is the low point must remain unanswered at this point,” he added.

Occupancy in the capital dropped below 60% during April, the first time that has happened since PKF began its monthly reports on the sector.

The 14.7% fall to 59.8% meant occupancy rates were at their lowest since 1991, when occupancy hit 61.9%.

Average room rate also continued to fall, down by 10.6% to £87.42, and rooms yield dropped 23.7% to £52.30, said PKF.

There was a marked decline in the number of visitors from the US and Japan, with the percentage decrease “well into double digits”, it added.

Outside the capital, however, it was a different story, with occupancy levels holding up surprisingly well.

Regional hotels reported similar occupancy levels to last year, with just a 0.7% dip, to 68.2%.

Average room rate fell 7.7% to £58.16, most likely because of the Easter weekend boosting the number of domestic guests at the expense of higher-paying foreign tourists, suggested PKF. Rooms yield was down 8.4% at £39.67, it added.

With the critical summer period approaching, it was impossible to say when the gloom would end. “It is simply far too early to really know whether this is the bottom of the market,” said Melvin Gold, managing director of hotel consultancy services.

“With continued uncertainty in economic and political situations around the world, we can only say that it is certainly a low point, but whether it is the low point must remain unanswered at this point,” he added.