London Hotels
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...
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 ...
Can Hotel ADRs Overcome High Inflation?
Shaffer Patrick | November 28, 2022
By Shaffer Patrick, Sophie Perret Many global economies are going through a period of high inflation, brought on by macroeconomic factors such as government stimulus and global supply shocks. We have asked the questions: can rising costs be passed along to the consumer and what does the current inflation environment say about hotel pricing over the next few years? We have used London as a case study to understand the relationship between inflation and hotel ADRs (average daily rates). We analysed trends over the long term (1973-2022) as well as over specific periods of economic prosperity and strife to draw conclusions about what the...
STR: London Hotels Post Record-Breaking Room Rates
STR | July 13, 2022
LONDON—London’s hotel industry reported its highest monthly room rates on record, according to preliminary June 2022 data from STR. Occupancy: 83.1% Average daily rate (ADR): GBP209.00 Revenue per available room (RevPAR): GBP173.60 The absolute ADR and RevPAR levels were the highest for any month in STR’s London database. The absolute occupancy level was the highest in London since July 2019 but still came in 7.3% lower than the pre-pandemic comparable (June 2019). All of STR’s COVID-19 analysis can be found here....
STR: London Hotels Saw Highest Occupancy of the Pandemic-Era in April
STR | May 9, 2022
LONDON—London’s hotel industry reported its highest monthly occupancy level since February 2020, according to preliminary April 2022 data from STR. Occupancy: 72.0% Average daily rate (ADR): GBP151.42 Revenue per available room (RevPAR): GBP108.98 While occupancy increased month over month, it was down roughly 11% from the pre-pandemic comparable. The absolute ADR level was slightly lower than the previous month but up more than 6% from April 2019. London’s daily occupancy stayed above 60% with the exception of Monday, 18 April (50.2%). The highest occupancy level was reported on Tuesday, 26 April (83.7%), and overall ...
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...
