STR: Preliminary August data for London hotels

STR EuropeSTR: Preliminary August data for London hotels

STR’s preliminary August 2017 data for hotels in London, England, indicates a year-over-year decline in occupancy levels, but growth in average daily rate (ADR).

Based on daily data from August, London reported the following in year-over-year comparisons:
Supply: +4.0%
Demand: +1.2%
Occupancy: -2.7% to 82.3%
Average daily rate (ADR): +3.0% to GBP143.28
Revenue per available room (RevPAR): +0.2% to GBP117.90

August marked London’s 10th consecutive month of ADR growth, due primarily to the pound devaluation caused by the June 2016 Brexit vote. STR analysts note that London’s occupancy decline was a result of the spike in supply. The number of rooms sold in the market went up, but supply grew at a quicker rate.

STR will release full August 2017 results later this month.

About STR
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.

Source = STR
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