LONDON – London’s hotel average daily rate (ADR) and revenue per available room (RevPAR) came in higher than the pre-pandemic comparable, according to preliminary October 2022 data from STR.
- Occupancy: 83.8%
- Average daily rate (ADR): GBP199.95
- Revenue per available room (RevPAR): GBP167.60
The market’s occupancy and RevPAR levels came in higher than the month prior, but occupancy remained 4.0% below the 2019 comparable.
When looking at daily data, the market continued to show high occupancy levels on Tuesdays and Wednesdays, pointing to business demand, with the highest daily occupancy for the month (93.0%) recorded on Wednesday, 12 October.
More of STR’s analysis can be found here.
About STR
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
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