London Hotels Report 1.6 Percent Occupancy Decline for September 2017
Preliminary data from STR shows London hotels saw occupancy decrease 1.6% year over year to 86.9% during September. ADR rose 1% to £165.39 ($217.35), but RevPAR decreased 0.6% to £143.69 ($188.84).
STRs preliminary September 2017 data for hotels in London, England, indicates a year-over-year decline in occupancy levels, but growth in average daily rate (ADR).
Based on daily data from September, London reported the following in year-over-year comparisons:
- Supply: +3.9%
- Demand: +2.3%
- Occupancy: -1.6% to 86.9%
- ADR: +1.0% to GBP165.39
- Revenue per available room (RevPAR): -0.6% to GBP143.69
Londons hotel supply continues to grow and pressure the markets occupancy levels. STR analyst note that demand (rooms sold) was likely boosted by the biennial Defence and Security Equipment International fair (12-15 September), which was estimated to host more than 34,000 attendees. September was Londons 11th consecutive month of ADR growth.
STR will release full September 2017 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.
Categories: Market Reports