Press Release12 July 2017
LONDON — STR‘s preliminary June 2017 data for London, England, indicates strong rate growth.
Based on daily data from June, London reported the following in year-over-year comparisons:
- Supply: +3.6%
- Demand: +3.2%
- Occupancy: -0.4% to 84.1%
- Average daily rate (ADR): +5.5% to GBP162.51
- Revenue per available room (RevPAR): +5.1% to GBP136.72
The U.K. capital experienced only moderate declines in occupancy for the days following the 3 June terrorist attacks at London Bridge. A week later, the market returned to performance growth. Additionally, STR analysts credit ADR growth toward the end of the month to a calendar shift in the Eid Mubarak holiday from July in 2016 to June this year, as the city typically welcomes a high volume of visitors from the Middle East during that time.
STR will release actual June 2017 results later this month.
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STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 16 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.