Archive for the London hotels Category

London hotels suffer decline in occupancy

Preliminary data from STR has indicated a year-on-year decline in occupancy levels for London hotels. Occupancy fell by 2.7% to 82.3% compared to the same period last year. STR analysts note that London’s occupancy decline was a result of the spike in supply. The number of rooms sold in the market went up, but supply grew at a quicker rate. On the other hand, the figures suggest a growth in the average daily rate (ADR) compared to last year’s data with an increase of 3% to £143.28. There has been a 4% increase in supply and a 1.2% increase in

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London hotels show strong growth rate

Preliminary data from STR indicates that London hotels have continued to show strong rate growth. Despite recent terror attacks in the country, hotels in the UK have displayed record performance growth. Based on daily data from June, London had a 3.5% year-on-year increase of supply, along with a demand increase of 2.5%. Occupancy fell by 0.9% to 87.5%. ADR grew by 6.6% to £165.42 while RevPar rose to £144.76 which was an increase of 5.6% compared to the previous year. Although July produced a year-over-year decline in occupancy, which STR analysts attribute to the market’s supply growth, the absolute level

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