London hotels show strong growth rate
Preliminary data from STR indicates that London hotels have continued to show strong rate growth.
Despite recent terror attacks in the country, hotels in the UK have displayed record performance growth.
Based on daily data from June, London had a 3.5% year-on-year increase of supply, along with a demand increase of 2.5%. Occupancy fell by 0.9% to 87.5%.
ADR grew by 6.6% to £165.42 while RevPar rose to £144.76 which was an increase of 5.6% compared to the previous year.
Although July produced a year-over-year decline in occupancy, which STR analysts attribute to the market’s supply growth, the absolute level would be London’s highest for any month thus far in 2017.