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More bedrooms leads to occupancy decline in London hotels

11 September 2017 by
More bedrooms leads to occupancy decline in London hotels

The occupancy rate in London hotels dropped by 2.7% during August to 82.3%, while average daily rate (ADR) increased by 3% to £143.28, according to the latest preliminary monthly figures from data company STR.

Last month marked the 10th consecutive month of ADR growth for the capital, which is believed to be primarily driven by the fall in the value of the pound since the referendum vote in June 2016.

The fall in occupancy was due to the 4% increase in supply of rooms, said STR analysts. However, the number of rooms sold in the market was up by 1.2%.

Meanwhile, revenue per available room was virtually flat, up 0.2% to £117.90.

STR will release full August 2017 results later this month.

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