STR’s preliminary May 2019 data for London indicates higher room rates.
Based on daily data from the month, London reported the following in year-over-year comparisons:
- Supply: +1.8%
- Demand: +1.2%
- Occupancy: -0.6% to 82.0%
- Average daily rate (ADR): +1.6% to GBP147.76
- Revenue per available room (RevPAR): +1.0% to GBP121.17
The decline in occupancy was due to supply outgrowing demand. STR analysts note the ADR increase was primarily due to the Chelsea Flower Show (21-25 May), which pushed the metric to its peak for the month (GBP182.33) on the first day of the event.
STR will release full May results later this month.
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