STR’s preliminary August 2019 data for London indicates lower occupancy but significant overall performance.
Based on daily data from the month, London reported the following in year-over-year comparisons:
• Supply: +1.5%
• Demand: +1.2%
• Occupancy: -0.3% to 86.7%
• Average daily rate (ADR): +4.8% to GBP151.58
• Revenue per available room (RevPAR): +4.5% to GBP131.39
The absolute RevPAR level is the highest for any August in STR’s London database. STR analysts note that although there was a slight decline in occupancy, London saw 11 nights above 90% in the metric, which could be due to the devaluation of the pound attracting international visitors to the market.
STR will release full August results later this month.
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