Hotels in London record best August growth rates since Olympics
A 7.5% demand increase for hotel rooms in London delivered the highest August average daily revenue (ADV) per available room rates (revpar) in the city for six years, according to preliminary results from data company STR.
ADR and revpar increased by 2.5% to £145.45 and 8.2% to £126.29 year on year respectively last month, alongside a 5.6% rise in occupancy to 86.8%. Supply increased marginally by 1.8%.
A spokesperson for STR said: “The absolute ADR and revpar levels were the highest for an August in London since 2012, when the market hosted the Summer Olympics.”
Article Credit: The Caterer