London hotel performance improves in February, data finds
Average daily rate (ADR) on the other hand, was just 1.6% lower than February 2019, sitting at £130.79.
London’s hotel industry reported month-over-month performance improvement, according to preliminary February 2022 data from data benchmarking site STR.
It revealed that London’s performance improved especially on weekends, with 26 February producing the highest performance levels for the month: occupancy (80.8%), ADR (GBP162.33), and RevPAR (GBP131.18).
Overall occupancy level has been reported at its “highest” in the market since November 2021 at 58.8% – but still 25% below the pre-pandemic comparable from 2019.
Average daily rate (ADR) on the other hand, was just 1.6% lower than February 2019, sitting at £130.79.
Additionally, STR said global weekly occupancy, excluding the US, fell for the first time in five weeks, dropping 1.9 percentage points to 50.1%.
The decrease was led by China, Japan, and the UK, which accounted for 71% of the fall, however based on supply, the UK continued to have the highest weekly occupancy.
