Hotel average daily rate in London up, but occupancy down 1%
London hotels recorded the absolute highest average daily rate (ADR) for a September since 1995, according to the latest performance figures from hotel data company STR.
However, while, the ADR grew by 0.7% year-on-year to £164.76, revenue per available room remained flat, with a 0.2% decrease to £145.48.
Meanwhile, occupancy dropped by 1% to 88.3%, alongside increases in supply and demand of 2.6% and 1.6% respectively.
Analysts at STR said that London has maintained strong demand levels since the results of the Brexit referendum were announced in June and that the market has experienced 10 consecutive months of growth at a rate of 2% or higher.
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