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The London hotel market saw continued growth in August despite an increase in supply, according to research by STR Global.
Preliminary results from STR Global’s latest research report a 3.3% increase in supply and a 4.3% increase in demand.
The data also showed a 1.1% increase in occupancy rates to 87.2%, a 2.1% increase in average daily rate to £134.92, and a 3.3% growth in revenue per available room (RevPAR) to £117.61.
Elizabeth Winkle, managing director of STR Global, said: “Despite the market seeing the largest supply increase so far this year, hotels still saw strong demand, resulting in positive occupancy growth.
“Two years after hosting the Summer Olympics [sic], it’s good to see strong results still coming out of the market. The strong performance in August also can be attributed to the calendar shift of Ramadan from August to July.”
Image courtesy of VisitEngland/Diana Jarvis
