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.
Videos from The Caterer archives