LONDON—Glasgow’s hotel occupancy on the books is pushing 90% for the UN Climate Change Conference, and London is showing increases around two key sporting events, according to data from Forward STAR, STR’s forward-looking benchmarking solution.
“These numbers indicate the optimism for vaccine distribution, better control of the pandemic, and improved conditions for travel and events,” said Steven Cote, STR’s Product Manager for Forward STAR. “Guest booking windows have shortened significantly during the pandemic, so there is plenty of potential for these levels to grow even higher as we get closer to the event dates. At the same time, unfortunately, more cancellations are also possible if the situation is not improved enough for these events to happen as planned.”
Glasgow’s occupancy on the books sits between 84% and 89% for the event period in early November. This marks a substantial increase compared to business on the books for the rest of the year.
London levels are sitting mostly below 10% for 2021. However, the market shows a pair of modest spikes due to large sporting events. The highest level for occupancy on the books (21%) is currently showing on 18 June, the day of the UEFA Euro group stage match between England and Scotland. Later in the year on 2 October, the day before the London Marathon, occupancy on the books sits at 15%.
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STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate 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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