LONDON — July 27, 2021 — London’s short-term rental industry recorded slightly lower performance levels from the previous month, according to June 2021 data from STR.
June occupancy for the sector was 61.9%, which represented a 2.7% decrease from May (63.6%). Short-term rental occupancy was significantly higher than the 40.6% recorded by hotels in London. Hotel occupancy, however, was up 32.4% month over month.
Short-term rental average daily rate (ADR) reached GBP118.86, a 6.7% decline from May (GBP127.41). Revenue per available room (RevPAR) for the sector fell 9.2% to GBP73.63.
STR, the leader in global hospitality benchmarking and analytics, maintains the world’s largest hotel performance database. London is the first international short-term rental market where STR is expanding its benchmarking offerings via a pilot study. Included in STR’s short-term rental sample are both multi-family and single-family short-term rentals.
