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STR’s preliminary September 2019 data shows “high performance” for London hotels, boosted by a “busy events calendar”.
During the month, supply and demand both increased by 1.9% and 1.8% respectively. Average daily rate (ADR) increased by 7.9% to £170.63 year-over-year, and revenue per available room (RevPAR) also grew by 7.7% to £148.33.
However, occupancy decreased marginally by 0.1% to 86.9%.
A statement by STR read: “The absolute ADR and RevPAR levels are the highest for any September in STR’s London database.
“STR analysts note that despite the slight drop in occupancy, ADR levels were boosted by a number of events held during the month: the 73rd Congress of the International Fiscal Association (8-12 September), PLASA Show (15-17 September) and Sibos 2019 (23-26 September).”
