Preliminary data from STR for London’s hotel occupancy levels has indicated a year-on-year increase in occupancy for the first time since May 2017.
In June 2018, London reported the following year-on-year comparisons:
- Supply: +1.9%
- Demand: +4.1%
- Occupancy: +2.2% to 86.1%
- Average daily rate (ADR): -0.6% to £160.84
- Revenue per available room: +1.6% to £138.46
Although June showed an increase in occupancy, it was also the fourth month in a row with an ADR decrease after 16 consecutive months of increases.
STR analysts noted that market demand was boosted by a number of conerts taking place during the month, including Katy Perry (14 – 15 June), Beyoncé and Jay-Z (15 – 16 June), Ed Sheeran (14 – 17 June), and the Foo Fighters (22 – 23 June). Favourable weather conditions also helped hotel performance.
Please click here to view the occupancy table for London hotels from 2008 – 2018.
