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London hotel occupancy and room rates fall in February

11 March 2016 by
London hotel occupancy and room rates fall in February

London hotels recorded a year-on-year drop in occupancy and room rates in February, according to preliminary data from STR.

Occupancy was down by 2% to 75.6%, while average daily rate and revenue per available (revpar) room fell by 0.4% to £127.35 and 2.4% to £96.33 respectively.

Meanwhile, room supply increased by 2.9% and demand grew by 0.8%.

Analysts at STR noted that hotel performance in London is traditionally quiet at the beginning of the year. However, February's figures were an improvement on those in January when occupancy fell 4.4% and revpar dropped 5.9%.

The February revpar decline was mainly due to the drop in occupancy, as demand growth remains soft compared with supply growth.

London hotel occupancy in January falls to lowest levels since 2013 >>

Paris attacks impact December business in London hotels >>

UK shows highest hotel pipeline figures in Europe for December >>

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