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London hotel occupancy and room rates rise in January

15 February 2017 by
London hotel occupancy and room rates rise in January

London hotels kick-started the New Year with a strong January performance, recording an increase in occupancy and room rates, according to new figures from data company STR.

The 5.8% increase in occupancy to 70.5% was the highest achieved in January in the capital since 2008. Average room rate, up 5.7% to £127.84, was the highest for the first month of the year since 1984.

Revenue per available room (revpar) rose by 11.8% to £90.08, with the West End posting a particularly strong revpar increase of 20.1%.

Meanwhile the supply of and demand for rooms grew by 2.8% and 8.8% respectively.

While the strong figures were partially generated by the ongoing weak pound, STR highlighted that January's figures were in comparison with a weak first month of 2016, when the market was still struggling from the aftershocks of the terrorist attacks in Paris.

Hotel, restaurant and bar spending rises in January >>

Improved London hotel figures for November >>

London hotels report largest October occupancy decline in 15 years >>

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