Article Summary: London's hotel occupancy fell 74.4% to 23% in June, according to preliminary monthly data from STR. ADR dropped 59.2% to £72.48 ($91.51) and RevPAR declined 89.6% to £16.64 ($21.01).
London's hotel occupancy fell 74.4% to 23% in June, according to preliminary monthly data from STR. ADR dropped 59.2% to £72.48 ($91.51) and RevPAR declined 89.6% to £16.64 ($21.01).
Primary Category: Other Reports
LONDON—STR’s preliminary data for London hotels showed record performance lows.
Comparison with June 2019:
• Occupancy: -74.4% to 23.0%
• Average daily rate (ADR): -59.2% to GBP72.48
• Revenue per available room (RevPAR): -89.6% to GBP16.64
The absolute levels in each of the three metrics would be the lowest for any month on record in STR’s London database. STR analysts do not expect significant performance increases until restrictions are eased further in the U.K. The most recent video on weekly U.K. performance, which covers date through the opening week of July, can be found here.
All of STR’s COVID-19 analysis can be found here.
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. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
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Headline: STR: Preliminary June data for London hotels
Article Date: 7/13/2020
Article Time: 10:40:00 AM