Economy

London hotels see decline in occupancy in May

London hotels experienced a 0.6% decline in occupancy to 82% in May, according to the latest data from STR.


The decline in occupancy was due to supply outgrowing demand, and the data also indicated higher room rates during the month.

Supply increased by 1.8% in May, with demand also growing by 1.2%. Additionally, the average daily rate (ADR) grew by 1.6% to £147.76 and revenue per available room (RevPAR) increased by 1% to £121.17.

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A statement by STR read: “STR analysts note the ADR increase was primarily due to the Chelsea Flower Show (21-25 May), which pushed the metric to its peak for the month (GBP182.33) on the first day of the event.”

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