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October hotel occupancy in London lowest for 11 years

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October hotel occupancy in London lowest for 11 years

The lowest October occupancy rate in London hotels for 11 years has been attributed to “the significant increase” in bedroom supply.

However, while occupancy dropped 1.9% to 83.4%, the average room rate, which increased by 2.3% to £152.27, was the second highest for October since 1994. Revenue per available room rose by 0.4% to £126.96.

Room supply during the month was up by 4%, outpacing the 2% increase in demand.

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

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

UK hotels post record first half performance >>

London hotels beat regional properties on revpar in Q2 2017 >>

 

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