London hotel occupancy fell 74.8% to 22.8% in July, according to monthly preliminary data from STR. ADR dropped 52.4% to £83.61 ($108.94) and RevPAR plummeted 88% to £19.02 ($24.78).
LONDON—STR’s preliminary data for London hotels showed record-low occupancy.
Comparison with July 2019:
• Occupancy: -74.8% to 22.8%
• Average daily rate (ADR): -52.4% to GBP83.61
• Revenue per available room (RevPAR): -88.0% to GBP19.02
The absolute occupancy level would be the lowest for any month on record in STR’s London database. ADR and RevPAR were up from June levels. Regional markets in the U.K. continue to outperform capital cities. The most recent video on weekly U.K. performance, which covers 27 July through 2 August, can be found here.
All of STR’s COVID-19 analysis can be found here.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. 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. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
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