london hotel market
Travel & Tourism Sector in Key European Capitals Strongly Recovering Says WTTC
WTTC | February 15, 2023
London, UK: A new report from the World Travel & Tourism Council (WTTC) has revealed strong signs of recovery of the economic impact from Travel & Tourism in the five city ‘powerhouses’ of Western Europe. The Cities Economic Impact Report, sponsored by Visa and researched in partnership with Oxford Economics, analysed key indicators such as Travel & Tourism’s contribution to GDP, employment and traveller spend. The study examined the impact of the sector in London, Paris, Berlin, Rome, and Madrid. The report from the global tourism body shows that in 2019, the Travel & Tourism sector contributed over $83.5BN to th...
STR: London Hotel Performance Improved in February
STR | March 14, 2022
LONDON — March 14, 2022 — London’s hotel industry reported month-over-month performance improvement, according to preliminary February 2022 data from STR. Occupancy: 58.8% Average daily rate (ADR): GBP130.79 Revenue per available room (RevPAR): GBP76.88 The occupancy level was the highest in the market since November 2021 but still 25% below the pre-pandemic comparable from 2019. ADR, on the other hand, was just 1.6% lower than February 2019. Daily data shows that London’s performance improved especially on weekends, with 26 February producing the highest performance levels for the month: occupancy (80.8%),...
London Hotels See Flight to Quality From Today’s Leisure Guests, Hears Webinar
HVS | February 10, 2022
London - February 10, 2022 - London’s hotel market will return to pre-pandemic performance levels but is unlikely to return to growth until at least 2024/25. This was the conclusion of the 15th hotel webinar organised by consultancy HVS, legal expert Bird & Bird, publishing group EP Business in Hospitality and restructuring advisory firm AlixPartners, held yesterday [9th February 2022]. While the majority (38%) of the 300 webinar attendees said in a poll that they did not expect hotel RevPAR to reach 2019 levels until 2023, 19% were more pessimistic with estimates of recovery later than 2024. Nearly half said a key feature o...
London’s Outlook: An Analysis by Hotel Class
STR | October 11, 2021
When booking a hotel room, guests are considering more factors than ever in deciding which property to call home in their destination. One of the many considerations is price, and by extension hotel class, which leads us to this latest analysis of occupancy on the books in London. Examining future occupancy levels by class allows for a better understanding of the traveler booking rationale for the upcoming months. Merry Christmas and not such a Happy New Year The short-term outlook for London is positive as summer ends and the industry transitions into the typically slower autumn and winter months. Leading bookings in the short-term are...
STR: Preliminary June Data for London Hotels
STR | July 13, 2021
LONDON — July 13, 2021 — STR’s preliminary June 2021 data for London hotels showed its highest performance levels since the start of the pandemic. Occupancy: 41.0% Average daily rate (ADR): GBP99.78 Revenue per available room (RevPAR): GBP40.96 The absolute occupancy and RevPAR levels were the highest for any month in London since February 2020, while the ADR level was the highest since March 2020. Year-over-year percentage increases are substantial because of the comparison with the months most affected by the pandemic in 2020. All of STR’s COVID-19 analysis can be found here....
Budget Hotels Make up Half of UK’s Development Pipeline as Popularity of Low-Cost Rooms Continues
HVS | November 11, 2015
11 November 2015, London: The march of budget hotels continues in the UK, with over 1,500 budget rooms added to the sector's pipeline in Q3 2015 alone, according to the Hotel Bulletin Q3 2015 published this week by HVS, AlixPartners and AM:PM. For the first time budget bedrooms account for more than half the UK's active hotel development pipeline – with the sector showing no signs of slowing. "The low-cost budget sector continues to be popular with both leisure and corporate guests who appreciate their emphasis on the basic necessities of a decent bed, quality shower, free wifi and a TV. With the development of sub-brands such as ...
