Preliminary August data from STR shows London hotels saw a 5.6% occupancy increase to 86.8%, a 2.5% ADR increase to £145.45 ($189.23) and a 8.2% RevPAR increase to £126.29 ($164.30).
STR’s preliminary August 2018 data for London, England, indicates strong performance driven by significant growth in demand.
Based on daily data from the month, London reported the following in year-over-year comparisons:
- Supply: +1.8%
- Demand: +7.5%
- Occupancy: +5.6% to 86.8%
- Average daily rate (ADR): +2.5% to GBP145.45
- Revenue per available room (RevPAR): +8.2% to GBP126.29
The absolute ADR and RevPAR levels were the highest for an August in London since 2012, when the market hosted the Summer Olympics.
STR will release full August results later this month.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.