Propel Morning Briefing

London hotel market sees highest occupancy rate so far this year

The London hotel market saw its highest occupancy rate so far this year in July, according to new data.

STR’s preliminary report for the month showed an occupancy level of 87.5%, which was a 0.9% fall compared with the previous year.

Average daily rate increased 6.6% to £165.42, while revpar was up 5.6% to £144.76.

Meanwhile, supply rose 3.5% and demand 2.5%. STR analysts said hotels in the capital continued to record performance growth despite recent terror attacks in the country.

They primarily attributed the year-on-year decline in occupancy to the market’s supply growth.

 

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