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STR and Tourism Economics have predicted that summer events will boost demand for London hotels.
In anticipation of sold-out Adele concerts at Wembley (28 June – 2 July) and Wimbledon (3 – 17 July), STR is expecting a surge in occupancy levels and average daily rate (ADR).
Analysts said hotel performance in the UK capital could reach record levels between late June and mid-July over the 19-day period the events cover.
An influx of Middle Eastern tourists is also expected during the period following the Eid holiday.
Michele Pasqui, STR forecast analyst, said: “London hotels had an exceptional start to the year. The results we’ve seen thus far have in part been a rebound from a weak first half [of] 2016, but more important has been the increased international tourism to the UK due to the pound devaluation.
“We expect this strong performance to continue through the remainder of 2017, and are projecting a 6% increase in demand for the year, which would be the market’s highest rate of growth since 2013.”
He added: “Along with strong demand, inflation is also picking up this year, and we expect London’s ADR to increase by around 5% for the full year, which should result in one of the market’s strongest performances for the last five years.”
