A busy month for events resulted in record-breaking hotel rates during September, according to preliminary figures from data company STR.
Average room rate and revenue per available room (revpar) increased year-on-year by 7.9% to £170.63 and 7.7% to £148.33, respectively. The figures were the highest for any September in STR’s London database.
Occupancy remained flat, down by 0.1% to 86.9%. A 1.9% increase in room supply was virtually matched by the 1.8% rise in demand.
STR analysts said that the room rate figures were boosted by a number of events including the 73rd Congress of the International Fiscal Association, PLASA Show and Sibos.
STR will release the full September results for London hotels later this month.