STR’s released preliminary data for the month of October 2019 across London hotels. This led to an evident fall in demand for hotels but also higher rates per hotel room.
It was based upon data recorded on a daily basis throughout October. As a result, London hotels reported the following in comparison to the previous year:
- Supply: +1.6%
- Demand: -0.3%
- Occupancy: -1.9% to 87.6%
- Average daily rate (ADR): +1.7% to GBP162.07
- Revenue per available room (RevPAR): -0.3% to GBP141.97
The absolute ADR level is the largest recorded for any October in the database STR run. However, the decline in demand is the first recorded for the market in three years. STR analysts recorded that the largest percentage of decline in occupancy in London hotels fell on the 31st October, at a total of 11.2% down.
Full data reports will be released by STR later this month.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. For more information, please visit str.com.