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Preliminary STR data for the month of June shows that London had a “moderate decline” in occupancy following the London Bridge terror attack.
A week later, the market showed strong growth again – a return to the record-breaking figures recorded since the beginning of this year.
STR analysts have attributed the ADR growth towards the end of the month to the calendar shift of Eid Mubarak from July last year to June this year, as the city regularly sees a high number of Middle Eastern visitors at this time.
The preliminary data shows that supply was up by 3.6% year-on-year, while demand saw a 3.2% growth. Occupancy fell slightly by 0.4% to 84.1%.
The average daily rate (ADR) rose by 5.5% to £162.51 and RevPAR was at £136.72 which was an increase of 5.1%.
