London Hotel Performance
London Market Pulse 2024 – Investor Confidence Renewed
Cassandre Pene | October 3, 2024
Owing to its rich cultural heritage, prestigious educational institutions and wide range of attractions across fashion, media and sports, London is a key destination for international visitors. In addition, its strong influence as a financial centre and a hub for technology and innovation defines it as a leading market in terms of hospitality and hotel investment. Despite its size, London’s accessibility through various international airports as well as the Eurostar high-speed rail service facilitates travel, ensuring a steady influx of both leisure and business travellers. These factors are expected to drive London’s continued success a...
Taylor Swift Drove London Hotel Performance in August
CoStar Group | September 11, 2024
WASHINGTON – 11 September 2024 – London hotels saw a spike in hotel performance during Taylor Swift’s Eras Tour, according to August preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. August 2024 (year-over-year % change): Occupancy: 83.9% (+2.7%) Average daily rate (ADR): GBP191.94 (+5.1%) Revenue per available room (RevPAR): GBP160.98 (+8.0%) On 15-17 and 19-20 August, Swift wrapped up the European leg of her tour at Wembley Stadium. Hotel performance levels reached a monthly high on the night of the third concert (Sa...
London Hotel Performance Jumped During Holiday Season
CoStar Group | January 15, 2024
WASHINGTON – 15 January 2024 – Helped by the holiday travel season, London hotels posted significant performance levels, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. December 2023 (year-over-year % change): Occupancy: 80.5% (+5.7%) Average daily rate (ADR): GBP208.90 (+2.0%) Revenue per available room (RevPAR): GBP168.07 (+7.8%) The ADR and RevPAR levels were the highest for any December on record in the market, while occupancy was the highest for any December since 2018. According to daily d...
London Hotel Performance Growth Moderated in September
CoStar Group | October 12, 2023
WASHINGTON – 12 October 2023 – With the summer travel surge concluded, London’s hotel industry showed more normalized levels of growth, according to preliminary September 2023 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. September 2023 (year-over-year % change): Occupancy: 84.3% (+3.1%) Average daily rate (ADR): GBP208.51 (+2.6%) Revenue per available room (RevPAR): GBP175.75 (+5.7%) Measured against strong performance in September of 2022, the ADR and RevPAR increases were London’s lowest this year. The market’s occupancy ...
STR: London Hotel RevPAR Highest Since October 2022
STR | June 14, 2023
LONDON – London’s hotel industry reported its highest revenue per available room (RevPAR) since October 2022, according to preliminary May 2023 data from STR. May 2023 (year-over-year % change) Occupancy: 80.5% (+3.5%) Average daily rate (ADR): GBP204.52 (+18.9%) Revenue per available room (RevPAR): GBP164.54 (+23.1%) May was the first month this year with the market’s ADR above GBP200. In addition, the occupancy level was London’s highest since November 2022. London’s occupancy peaked on 23 and 27 May (92.5%), which was one of the three bank holiday weekends in the U.K., leading to extended vacation travel. T...
STR: London Hotel Performance Remained Steady in December
STR | January 11, 2023
LONDON – London hotel average daily rate (ADR) and revenue per available room (RevPAR) came in higher than the 2019 comparable for an eighth consecutive month, according to preliminary December 2022 data from STR. Occupancy: 76.8% Average daily rate (ADR): GBP206.87 Revenue per available room (RevPAR): GBP158.89 London’s ADR and RevPAR levels were up 31.0% and 25.1%, respectively, from the pre-pandemic comparables. Like the rest of the year, occupancy remained below the 2019 comparable (-4.5%). Daily data for December shows London’s highest occupancy levels were recorded on Saturday, 3 December (93.4%), and Wednesda...
STR: London’s Hotel ADR and RevPAR Surpassed Pre-Pandemic Levels in October
STR | November 15, 2022
LONDON – London’s hotel average daily rate (ADR) and revenue per available room (RevPAR) came in higher than the pre-pandemic comparable, according to preliminary October 2022 data from STR. Occupancy: 83.8% Average daily rate (ADR): GBP199.95 Revenue per available room (RevPAR): GBP167.60 The market’s occupancy and RevPAR levels came in higher than the month prior, but occupancy remained 4.0% below the 2019 comparable. When looking at daily data, the market continued to show high occupancy levels on Tuesdays and Wednesdays, pointing to business demand, with the highest daily occupancy for the month (93.0%) recorded...
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%),...
