Trending
The Oasis tour and Wimbledon saw London’s hotel industry hit its highest average daily rate (ADR) and RevPAR on record, according to preliminary data from CoStar.
The real estate data group found that July saw ADR hit a record £234.58, a rise of 2.4% year-on-year, while RevPAR hit £207.93, marking a rise of 3.3%.
In addition, occupancy rose to 88.6%, the highest for any July since 2018.
Wimbledon pushed performance levels to monthly highs on 12 July, the night of the women’s final, with occupancy at 94.7%, ADR at £276.72 and RevPAR at £262.01.
The men’s final the following day also contributed to elevated demand, with occupancy topping 90% on all but three nights of the tournament.
Meanwhile the Oasis concerts on 25, 26 and 30 July provided a further boost. The second show produced the strongest results, with occupancy at 91.6%, ADR at £239.33 and RevPAR at £219.15.
Across the month, London’s occupancy stayed above 80% on all but two days, signalling continued strength in demand alongside record room rates.
The Oasis tour and Wimbledon saw London’s hotel industry hit its highest average daily rate (ADR) and RevPAR on record, according to preliminary data from CoStar.
The real estate data group found that July saw ADR hit a record £234.58, a rise of 2.4% year-on-year, while RevPAR hit £207.93, marking a rise of 3.3%.
In addition, occupancy rose to 88.6%, the highest for any July since 2018.
Wimbledon pushed performance levels to monthly highs on 12 July, the night of the women’s final, with occupancy at 94.7%, ADR at £276.72 and RevPAR at £262.01.
The men’s final the following day also contributed to elevated demand, with occupancy topping 90% on all but three nights of the tournament.
Meanwhile the Oasis concerts on 25, 26 and 30 July provided a further boost. The second show produced the strongest results, with occupancy at 91.6%, ADR at £239.33 and RevPAR at £219.15.
Across the month, London’s occupancy stayed above 80% on all but two days, signalling continued strength in demand alongside record room rates.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution
Copyright BlazeThemes. 2023
