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London hotels saw lowered performance in May due to supply growth, according to hotel market data and benchmarking firm STR.
Based on daily data from May, London reported the following in year-over-year comparisons:
- Supply: +2.0%
- Demand: +0.9%
- Occupancy: -1.0% to 82.3%
- Average daily rate (ADR): -4.1% to £146.51
- Revenue per available room (RevPAR): -5.0% to £120.59
The month was also the third in a row with an ADR decrease after 16 straight positive months. As of April, London’s 12-month average supply growth was 3.0%.
STR analysts said: “Although there was a weakening of the pound in May, there was no significant increase in demand. The Royal Wedding on 19 May also did not produce a significant impact on performance.”
