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London hotel occupancy boosted by summer shows

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London hotel occupancy boosted by summer shows

Hotels in London got a boost from the summer sun and big-name concerts last month and saw higher occupancy but lower rates.

According to STR’s preliminary June 2018 data for hotels in London, June was the city’s first month with a year-over-year occupancy increase since May 2017. On the other hand, June was the fourth month in a row with an average daily rate (ADR) decrease following 16 consecutive months of growth.

London hotels saw a 2.2% increase to 86.1%, but the average daily rate dropped 0.6% to £160.84.

Market demand was boosted by various concerts throughout the month, such as Katy Perry, Beyoncé and Jay-Z, Ed Sheeran and the Foo Fighters. Favourable weather conditions also helped hotel performance.

Supply was up 1.9% and demand 4.1%, with a recorded revenue per available room increase of 1.6% to £138.46.

Average daily rate in UK hotels falls for first time since October 2016 >>

New London hotel openings continue to drive down results >>

Beast from the East drives down London’s average daily rate >>

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