Based on daily data from June, London reported the following in year-over-year comparisons:
- an increase in supply (+2.5%) and a decrease in demand (-1.8%);
- a 4.2% decrease in occupancy to 84.4%;
- a 1.9% decrease in average daily rate (ADR) to GBP155.40; and
- a 6.0% decrease in revenue per available room (RevPAR) to GBP131.17.
London’s absolute occupancy exceeded 90% on nine days in June 2016, compared with 15 days of occupancy above 90% in June 2015. Even with the nine days, the month’s 2016 occupancy level was the lowest for a June in London since 2012.
STR will release actual June 2016 results during the week of 25 July.
A note to editors: As of 1 March 2016, all references to STR data and analysis should cite “STR” as the source. Please refrain from citing “STR, Inc.” “Smith Travel Research” or “STR Global” in sourcing as those names no longer fit within the updated STR brand.