In May 2023, London’s hotels saw their highest revenue per available room (RevPAR) since October 2022, according to hospitality benchmarking data company STR.
The data, which examines year-on-year change, finds that RevPAR was £164.54, showing a rise of 23.1% for London hotels.
Go deeper with GlobalData
Occupancy was at 80.5%, which is an increase of 3.5% and was the city’s highest level since November 2022.
It peaked on 23 and 27 May (92.5%), across one of the three bank holiday weekends in the UK that month, 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.
See Also:
Daily occupancy levels remained above 60% throughout the month with only one day falling below that mark (8 May, at 57.7%).
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe average daily rate (ADR) was £204.52, an increase of 18.9%. May was reportedly the first month in 2023 with the market’s ADR above £200.
GlobalData’s analysis of the UK’s travel and tourism industry finds that the key players are HK & Shanghai Hotels, Arora Group and the PPHE Hotel Group.
RevPAR has been rising across the international hotel industry in 2023 so far, with Canada seeing consistent RevPAR of over C$100 for three consecutive months, while Bogota, Colombia, achieved the highest RevPAR ever recorded in the country.
