Article Summary: According to preliminary August data, London hotel occupancy dipped 0.3% to 86.7%, ADR rose 4.8% to 151.58 ($188.77) and RevPAR increased 4.5% to 131.39 ($163.62).
According to preliminary August data, London hotel occupancy dipped 0.3% to 86.7%, ADR rose 4.8% to 151.58 ($188.77) and RevPAR increased 4.5% to 131.39 ($163.62).
Primary Category: Other Reports
LONDON—STR’s preliminary August 2019 data for London indicates lower occupancy but significant overall performance.
Based on daily data from the month, London reported the following in year-over-year comparisons:
• Supply: +1.5%
• Demand: +1.2%
• Occupancy: -0.3% to 86.7%
• Average daily rate (ADR): +4.8% to GBP151.58
• Revenue per available room (RevPAR): +4.5% to GBP131.39
The absolute RevPAR level is the highest for any August in STR’s London database. STR analysts note that although there was a slight decline in occupancy, London saw 11 nights above 90% in the metric, which could be due to the devaluation of the pound attracting international visitors to the market.
STR will release full August results later this month.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. For more information, please visit str.com.
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Headline: STR: Preliminary August data for London hotels
Article Date: 9/13/2019
Article Time: 7:54:00 AM