Revpar in London hotels reaches 11-year high
The recovery from the recession continues in London hotels, with the highest revenue per available room (revpar) in the past 11 years achieved in July 2010, according to STR Global.
Occupancy in July was 93.5%, while average daily rate (ADR) was £144.06 and revpar was £134.64.
As well as a weaker pound and more favourable exchange rates helping to attract tourists from mainland Europe, North America and the Middle East, July also benefited from the biennial Farnborough Air Show, attended by more than 220,000 visitors.
However, STR Global said there were uncertainties on the horizon. With 20-30% of UK hotel business driven by the public sector, there will be an impact on London hotels, with the threat of a double-dip recession remaining.
This will be compounded by an additional 5,000 rooms which are expected to open before the 2012 London Olympics, increasing supply in the market.
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By Janet Harmer
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