London Short-Term Rentals Reach Early 2020 Performance Levels

STR | June 21, 2021

LONDON — June 21, 2021 — London’s short-term rental industry recorded its highest monthly occupancy and revenue per available room (RevPAR) since February 2020, according to May 2021 data from STR. May occupancy for the sector was 64.1%, which represented a 12.5% increase from April (57.0%) and the highest level in the market since February 2020 (65.1%). Short-term rental occupancy was significantly higher than the 31.0% recorded by hotels in London. Average daily rate (ADR) reached GBP111.50, a 16.5% jump over April (GBP95.74). The ADR level was the highest since March 2020 (GBP122.71). RevPAR for the sector rose 30.9% to GBP71.4...