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September hotel occupancy in London driven down by increase in hotel supply

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September hotel occupancy in London driven down by increase in hotel supply

Occupancy levels continued to be squeezed in London last month as more bedrooms were added to the supply, according to preliminary performance figures for September from data company STR.

Alongside a 1.6% year-on-year fall in occupancy to 86.9%, revenue per available room also declined marginally, down 0.6% to £143.69. Meanwhile average daily rate (ADR) increased by 1% to £165.39, which was London’s 11th consecutive month of ADR growth.

STR analysts said that the 3.9% increase in hotel supply was continuing to put pressure on the market’s occupancy levels, while the number of rooms sold grew by 2.3%.

The capital’s hotel performance during September was said to have been boosted by the biennial Defence and Security Equipment International fair, which was estimated to host more than 34,000 attendees during the four day event.

STR will release its full September 2017 results later this month.

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