UK weekly data show little movement
 
UK weekly data show little movement
27 APRIL 2020 8:58 AM

Predictably, U.K. hotel performance data for the week ending April 19 is more of the same, but STR Director Thomas Emanuel points to a few glimmers of hope for the industry.

LONDON—The United Kingdom is several weeks into a nationwide stay-at-home order, which will extend until at least 7 May, and hotel performance numbers continue to languish at the bottom with little movement.

For the week ending 19 April, occupancy levels across the U.K. have “stabilized in the mid-teens, percentage-wise,” said STR Director Thomas Emanuel.

Average daily rate has been in decline for U.K. hotels since the COVID-19 pandemic hit, but “one glimmer of good news is that ADR has not fallen further again this week,” Emanuel said.

ADR levels hovering at year-over-year declines of 25% are “certainly no reason for celebration, but it is positive to see that rates have not tumbled further,” he said.

Revenue per available room also is showing no real movement, due to continued decline in occupancy and ADR.

“Nationally RevPAR was down 83%” for the week ending 19 April, Emanuel said.

That story is much the same around the U.K. Some markets—such as Newcastle and Aberdeen—show higher occupancy levels relative to the national average of 17.1% occupancy, but overall numbers are “simply staggering, especially when you consider the number of closed hotels not contributing to the data,” Emanuel said.

Forward-looking data

Forward-looking data, for bookings in London and Edinburgh over the next 90 days, yields no real surprises, Emanuel said.

Business on the books is lower for London hotels, which traditionally have a shorter booking window and large amount of short-lead-time bookings from the corporate sector.

“Forward occupancy has continued to fall (in London) and now stands at just 8% for the next 90 days,” he said.

For more of Emanuel’s insights into U.K. performance data, watch the video below:

Editor’s note: The video included in this article was filmed Thomas Emanuel, director at STR, on 22 April and edited and produced by CoStar Group. HNN is a division of STR, a CoStar Group company.

No Comments

Comments that include blatant advertisements or links to products or company websites will be removed to avoid instances of spam. Also, comments that include profanity, lewdness, personal attacks, solicitations or advertising, or other similarly inappropriate or offensive comments or material will be removed from the site. You are fully responsible for the content you post. The opinions expressed in comments do not necessarily reflect the opinions of Hotel News Now or its parent company, STR and its affiliated companies. Please report any violations to our editorial staff.