London hotels grow in August despite supply increase

The London hotel market saw CONTINUED growth in August, despite the largest increase in supply this year.That’s according to the latest figures from STR Global, which reported a 3.3% growth in supply and a 4.3% growth in demand over the month.

The preliminary data also showed a 1.1% increase in occupancy to 87.2% and a 2.1% increase in average daily rate to £134.92, as well as a 3.3% growth in revenue per available room to £117.61.“Despite the market seeing the largest supply increase so far this year, HOTELS still saw strong demand, resulting in positive occupancy growth”, said Elizabeth Winkle, managing director of STR Global.

“Two years after hosting the summer Olympics, it’s good to see strong results still coming out of the market. The strong performance in August also can be attributed to the calendar shift of Ramadan from August to July.”