Year-over-year, supply increased by 1.7%, with demand also growing 5.7% during the month. Additionally, the average daily rate (ADR) rose by 11.3% to £178.20 and revenue per available room (RevPAR) was up 15.7% to £159.9.
Occupancy also picked up in June, increasing 4%, compared with the 0.6% decline in occupancy to 82% seen in May. The decline was attributed to supply outgrowing demand, but the data also indicated higher room rates last month.
A statement by STR read: “The ADR and RevPAR levels are the highest for a June in STR’s London database. STR analysts note that multiple events contributed to higher ADR levels: the European Association of Geoscientists & Engineers Conference (3-6 June), IFSEC International (18-20 June) and Global Offshore Wind 2019 (25-26 June).”