Archive for the STR Category

RevPAR slowdown could lead to lack of ‘investor interest’

Some investors could become wary of hotel assets due to RevPAR (rooms revenue per available room) plateaus amid predictions of labour shortages and increasing costs, according to the Hotel Bulletin Q3 2017 published this week by HVS, AlixPartners, STR and AM:PM. The Bulletin reports that in Q3 2017 average growth in RevPAR at 5% was the lowest level since Q1 2016, although the overall long-term outlook for UK hotels remains positive. While these results outpace UK GDP growth, which has averaged below 1% in the same period, the impact of a lower growth environment, global political uncertainty and an increasing

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London hotel occupancy dips in September

Preliminary data from STR shows that London hotels experienced a year-on-year decline in occupancy levels by 1.6% to 86.9% in the month of September. However, the capital’s properties saw growth in average daily rate (ADR) of 1% – up to £143.69 when compared with last year. Revenue per available room (RevPAR) saw a slight decrease of 0.6% to £143.69. STR suggested that the decline in occupancy was due to pressure from the increase of London’s hotel supply, which has been showing record growth for several consecutive years. STR analyst note that demand was likely boosted by the biennial Defence and

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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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UK hotels post record H1 performance

The first six months of the year produced the UK hotel industry’s highest occupancy, average daily rate (ADR) and revenue per available room (RevPAR) for any first half on record, according to data from STR. When compared to the same period last year, there was a 1.7% increase in occupancy to an actual level of 75.1%, a 4.7% increase in ADR to £89.33 and a 6.5% increase in RevPAR to £67.12. STR analysts note that the devaluation in the pound sterling following the Brexit vote has resulted in strong tourism growth for the UK, benefitting the country’s hotel sector. According

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Hotel performance remains strong in second quarter

Europe’s hotels have continued to show positive results in the second quarter of the year. According to figures from STR, occupancy, average daily rate (ADR) and revenue per available room (RevPAR) all showed growth when compared to the same period last year. STR suggested that the devaluation of the pound continued to drive inbound travel and stronger domestic tourism in the UK. Occupancy in the UK rose by 1% to 79.6% and ADR saw and uplift of 5.2% to £94.22. RevPAR increased by 6.3% to £75.05. London recorded an 8.4% rise in RevPAR to £127.33, due primarily to a 6.4%

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