Lower occupancy in London

London continues to see growth

Hotels in London saw lower occupancy but higher rates in January according to preliminary data from STR.

The company reported that the UK capital saw its highest absolute revpar level for any January.

London reported a 2.3% year-on-year increase in supply, with a 1.4% rise in demand. Occupancy was down 0.9 percentage point to 71.3%, with ADR up 1.5% to £133.31 and revpar building by 0.6% to £95.10.

STR analysts noted that occupancy comparisons had been affected by steady supply growth in the market. Strong performance during the first and last week of the month helped the month maintain overall positive levels.   

The company added: “Like most major markets in Europe, London has not yet shown a noticeable impact on performance relative to the outbreak of novel coronavirus. However, an impact was visible in the final days of the month in the Heathrow Airport submarket.”