Tag: STR

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November London room rates rise as occupancies drop

Room rates in London continued to rise during November, but occupancies were slightly down, according to the latest preliminary figures from data company STR.

Average daily rate (ADR) and revenue per available room (revpar) increased by 1.6% to £158.94 and 1.3% to £136.43 respectively compared to the same month in 2018, while occupancy dropped 0.4% to 85.8%.

The ADR and revpar levels were said to be the highest for any November in STR’s records for the capital.

The CBI annual conference on 18 November helped drive performance, with revpar increasing by 20.2% that day.

A 2.1% increase in new rooms was slightly ahead of the 1.8% rise in demand.

STR will release its full November results later this month.

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Former Brexit day sees steep decline in London hotel performance

STR have released preliminary performance figures suggesting that the Brexit day that never was saw a steep decline in occupancy and revenue per available room (revpar) rates across London hotels.

Occupancy and revpar fell by 11.2% and 11.7% respectively on 31 October, the Brexit deadline until the date for the UK’s departure from the EU was moved until 31 January 2020.

The performance of London hotel across the rest of the month showed a 1.9% drop in occupancy to 87.6%, while average daily rate increased by 1.7% to £162.07 and revpar was largely flat, down 0.3% to £141.97.

The supply of new rooms to the market was up by 1.6%, ahead of a 0.3% decrease in demand from guests.

STR will release the full results for October later this month.

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Events drive up September room rates in London hotels

A busy month for events resulted in record-breaking hotel rates during September, according to preliminary figures from data company STR.

Average room rate and revenue per available room (revpar) increased year-on-year by 7.9% to £170.63 and 7.7% to £148.33, respectively. The figures were the highest for any September in STR’s London database.

Occupancy remained flat, down by 0.1% to 86.9%. A 1.9% increase in room supply was virtually matched by the 1.8% rise in demand.

STR analysts said that the room rate figures were boosted by a number of events including the 73rd Congress of the International Fiscal Association, PLASA Show and Sibos.

STR will release the full September results for London hotels later this month.

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London hotel occupancy drops by 0.6% in May

New hotel openings resulted in a slight decline in hotel occupancy rates in London during May, according to new figures from data company STR.

The supply of hotel rooms increased by 1.8% alongside a 1.2% increase in demand, resulting in a 0.6% fall in occupancy to 82%.

The Chelsea Flower Show from 21 to 25 May helped drive up average daily rate (ADR) by 1.6% to £147.76, with the first day of the show recording ADR of £182.33.

Revenue per available room increased by 1% to £121.17.

STR will release its full results of the performance of London hotels during May later this month.

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London hotels see room rates increase in April

STR’s preliminary April 2019 data for London hotels reported an increase in Average daily rate (ADR) of 1.4% to £143.01.

According to the report, year-over-year, supply is increased by 2.3% during the month, with demand also growing by 0.7%. However, occupancy decreased by 1.6% to 81.1% during the period, and Revenue per available room (RevPAR) also slipped 0.1% to £115.99.

A statement by the group read: “The absolute ADR level is the highest for any April in STR’s London database. STR analysts attribute the decrease in occupancy to supply growth, and to a lesser extent, the Easter calendar shift from early April last year.”

It comes as UK hoteliers saw an “encouraging start” to the year as a result of a “healthy rise” in hotel demand from international travellers.

The findings from Expedia Group, drawn from Q1 2019 data (January, February, March), show that demand for trips made by international travellers increased when compared with the same period last year, with major metropolitan cities and several regions across the country boosted by double digit year-on-year growth.

Outside of London, a number of major cities experienced notable growth, including Manchester (over +10% year on year), Edinburgh (+15% year on year), Glasgow, Leeds and Cardiff (each +10% year on year).