Olympics boost for hotel occupancy and rates
The first week of the London 2012 Olympic Games proved to be a major boost for London hotels, according to figures from STR Global.
From the day of the opening ceremony on 27 July to 5 August, hotels in the capital reported average occupancy of 97.7% and average daily room rate (ADR) of £216.42, representing an increase of 3.2% and 87.1% respectively compared to the same period in 2011. Revenue per available room (revpar) increased by 93.1% to £189.89.
Elizabeth Randall Winkle, managing director of STR Global, said: "We are also seeing improvement from weaker occupancy performances in June and early July, so it is good to see that performance has been picking up during the Olympics. However, Heathrow and Gatwick, in the west and south of London and therefore less convenient for Olympic venues, have reported occupancy declines for the Olympic period."
STR Global tracks the daily performance of more than 2,400 hotels across the United Kingdom. The company carried out its research for the Olympic period, which is based on physically occupied rooms and excludes any paid and unoccupied rooms on 7 August.
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By Janet Harmer
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