Hotels in London Report Highest RevPAR Since October 2022

Dark/Light Mode (16/06/23)  According to preliminary data from STR, London’s hotel industry reported its highest revenue per available room (RevPAR) since October 2022 in May 2023.

During the month of May 2023, hotels in London reported average occupancies of 80.5%, a year-on-year increase of 3.5%; average daily rate (ADR) was GBP 204.52, a y-o-y jump of 18.9%; and RevPAR was GBP 164.54, a growth of 23.1% y-o-y.

Deluxe City View Room at the Pan Pacific London

May was also the first month this year that the market’s ADR rose above GBP200, whilst occupancy levels were London’s highest since November 2022.

London’s occupancy peaked on 23 and 27 May (92.5%), which was one of the three bank holiday weekends in the U.K., leading to extended vacation travel.

The market also saw three consecutive days of occupancy above 90% (16-18 May), which coincided with the only full business week during the month.

The market’s daily occupancy levels remained above 60% throughout the month with only one day falling below that mark on 8 May, when they were at 57.7%.

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