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Hot summer boosts July performance of London hotels

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Hot summer boosts July performance of London hotels

The scorching weather and seasonal events helped London hotels achieve a record-breaking performance during July, according to preliminary figures from data company STR.

Average daily rate (ADR) and revenue per available room (revpar) were the highest for any month in STR’s London database, up 4.7% to £171.25 and 9% to £156.15 respectively.

Occupancy increased by 4% to 91.2%, alongside a 6.1% rise in demand. The supply of new bedrooms was also up by 2%.

London hotels performed even better in July 2018 than they did in July 2012 when the capital hosted the opening days of the Olympic Games.

Analysts at STR attribute the strong performance to an unseasonably warm summer, as well as the hosting of popular events such as  Wimbledon and London Pride, with hoteliers driving rate from increased business rate.

The figures are a welcome boost to the capital’s hotel operators who, after a recording breaking first half of 2017, have experienced a slowdown in performance mainly due to the strong increase in supply.

STR will release its full July results for London later this month.

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