London’s hotel sector continued its impressive growth in October, with STR Global’s preliminary data for the month showing significant increases in several key performance metrics.
Based on daily data from October, London reported:
- Increases in supply (+1.8%) and demand (+2.2%)
- 0.4% increase in occupancy to 87.8%;
- An 11.9% increase in average daily rate to GBP159.29; and
- A 12.3% increase in revenue per available room to GBP139.79.
ADR was the main driver of performance for the month as hotels benefitted from the Rugby World Cup and two National Football League games. In addition, Helitech International and TabExpo were both held in the city.
Supply growth in London had outpaced demand in each of the previous two months.
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