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STR: Preliminary May data for London hotels

June 15, 2018 Hotel Trends No Comments Email Email

STR’s preliminary May 2018 data for London, England, indicates lower performance due to supply growth. https://www.centarahotelsresorts.com/cosihotels/?utm_source=e-global&utm_medium=banner&utm_campaign=cosi-firstlaunch&fbtrack=CUST-cosi-firstlaunch-e-global-banner

Based on daily data from May, London reported the following in year-over-year comparisons:

  • Supply: +2.0%
  • Demand: +0.9%
  • Occupancy: -1.0% to 82.3%
  • Average daily rate (ADR): -4.1% to GBP146.51
  • Revenue per available room (RevPAR): -5.0% to GBP120.59

May was the 12th consecutive month with a year-over-year occupancy decline in the market. The month also was the third in a row with an ADR decrease after 16 straight positive months in the metric. As of April, London’s 12-month average supply growth was 3.0%.

STR analysts note that although there was a weakening of the pound in May, there was no significant increase in demand. The Royal Wedding on 19 May also did not produce a significant impact on performance.

STR will release full May results later this month. The May edition of STR’s Market Forecast is available now for London and a host of other markets across the globe.

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