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STR Global: Strong occupancy rates at London hotels

STR Global: Strong occupancy rates at London hotels

STR Global is reporting hoteliers across London saw 84.4 per cent occupancy during the first two days of the Olympics - July 27th-29th.
Properties in the capital also reported average room rates of £224.72.

“Hotel performance is strong, London hotels are busy.

“Some but not all are full; there is room in the inn but overall hotels are in a good position,” commented Elizabeth Randall, managing director of STR Global.

Historically, Olympic host cities do not sell out, Randall said.

Reviewing hotel performance over the past four summer games, back to 1996 in Atlanta, none of the host cities’ occupancy surpassed 90 percent for
the months in which the Olympics occurred, according to STR Global.

“During a normal period, hoteliers are able to anticipate demand based on known trends and can therefore plan for short-notice demand to supplement cancellations and no-shows,” Randall said.

“When an international event comes to town, these variables are more difficult to control or predict.”

Occupancy has been trailing behind last year for most of June and July.

Recent days’ occupancy achieved around 85 percent.