London hotels saw revenue per available room (revpar) drop by 2.24% in the week ending 24 August, according to figures from hospitality research company STR Global.
Revpar fell to £101.48, up from £103.73 during the equivalent week of 2007.
Occupancy decreased by 4.48 percentage points to 81.41% while average room rate increased by 3.22% to £124.66 compared with £120.78 in the corresponding week of 2007.
STR Global is a new company formed from the merger of leading hospitality research firms Smith Travel Research (STR), Deloitte's HotelBenchmark and The Bench.
By Angela Frewin