London hotels saw revenue per available room (revpar) drop by 2.1% during the week to 30 October, according to figures from hotel benchmarking service The Bench.
Revpar dropped to £99.02, down from £101.11 during the equivalent week last year.
The culprit was occupancy, which fell by 4.5 percentage points to 77.9%.
Average daily room rate, on the other hand, rose by 3.6% to £127.07.
Click here for the full London figures from The Bench (PDF file), showing average room rate, occupancy and revpar for the 12 weeks to 30 October.
The Bench - which is partnered with US firm Smith Travel Research - provides online benchmarking data for in excess of 34,000 hotels in more than 400 markets.
The online service allows users to track their performance in average room rate, occupancy and revpar in a variety of formats and to measure their daily performance against their competitors.