London hotels suffer decline in occupancy

Figures have shown a drop in occupancy compared to last year

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 demand for hotel rooms.

RevPAR has also seen an increase to £117.90, which is an uptick of 0.2% .

August marked London’s 10th consecutive month of ADR growth, due primarily to the pound devaluation in the wake of the EU referendum.

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Shekina Tuahene

Shekina is a multimedia journalist who has lived in London all her life. She is an alumnus of University of Greenwich and Brunel. Shekina loves to read, travel, socialise and listen to music. If you have any story or feature ideas, feel free to drop her a line.

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