London hotel rates surpassed pre-pandemic levels in July
LONDON – In line with seasonal trends, London hotel performance was below the peak recorded the previous month, according to preliminary August 2022 data from STR.
- Occupancy: 77.1%
- Average daily rate (ADR): 179.49 GBP
- Revenue per available room (RevPAR): GBP 138.37
Despite the decline from July, ADR and RevPAR levels remained well above pre-pandemic comparables at +19.4% and +6.9%, respectively. The occupancy rate was 10.5% lower than in August 2019, a steeper drop than the previous month.
Looking at daily data, Saturdays saw the highest occupancy, including an 87.2% level on August 13.
More STR analysis can be found here.
STR provides premium benchmarking data, analysis and market insights for the global hospitality industry. Founded in 1985, STR operates in 15 countries with North American headquarters in Hendersonville, Tennessee, international headquarters in London, and Asia-Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of online commercial real estate information, analysis and marketplaces. For more information, please visit str.com and costargroup.com.
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