London hoteliers record buoyant figures in July

Posted in Business, News on 16 August, 2016

Hotel owners in London have recorded positive results in July as increased rates helped to drive growth during the month, according to preliminary figures from STR.

Hotels in the capital experienced a 4 per cent increase in revenue per available room (RevPAR) to £138.51 compared with the same period last year, driven by a 3.7 per cent increase in average daily rate (ADR) to £156.67.

This marked the first month of the year in which London posted notable RevPAR growth, with performance falling in many of the previous months.

Meanwhile, occupancy for London hotels grew a marginal 0.2 per cent as an increase in demand (3.1 per cent) outgrew supply (2.8 per cent).

Analysts at the hotel data and benchmarking company credited the improved performance to the Wimbledon Championships, which took place between 27 June and 10 July, and more importantly, the biennial Farnborough International Airshows between 11 and 17 July.

The month’s highest absolute occupancy (97 per cent) and ADR (£187.44) levels were recorded on Tuesday, 12 July.

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