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London’s hotel industry recorded its highest revenue per available room (RevPAR) since October 2022, STR said.
According to preliminary data, May 2023 was the first month this year to register an average daily rate of more than £200.
The occupancy level in London was the highest since November 2022, peaking on 23rd and 27th of May reaching 92.5%.
The market also saw three consecutive days of occupancy above 90% (16-18 May), which coincided with the only full business week during the month.
The market’s daily occupancy levels remained above 60% throughout the month with only one day falling below that mark on 8 May at 57.7%.
Founded in 1985, STR provides data benchmarking, analytics and market insights for the global hospitality industry.
