According to preliminary data from STR for August 2022, London’s hotel room rates came in higher than the pre-pandemic comparable. Per the company, which provides data analytics for the hospitality industry, occupancy levels stood at 77.1 percent, while average daily rate (ADR) was £179.49, and revenue per available room (RevPAR) was £138.37.
Following seasonal patterns, each of the key performance metrics fell from July. Both the ADR and RevPAR levels, however, surpassed the pre-pandemic comparable, +19.4 percent and +6.9 percent, respectively. Occupancy remained 10.5 percent below August 2019.
When looking at daily data, the market’s occupancy levels were above 60 percent, with Saturdays showing the highest levels in the metric. The highest daily occupancy for the month was seen on August 13 (87.2 percent).
STR provides data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc., a provider of commercial real estate information, analytics and online marketplaces.
For more information, visit str.com.
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