STR: Preliminary April data for London hotels
LONDON—Reflecting the continued impact of the COVID-19 pandemic, April was London’s worst hotel performance month on record, according to preliminary data from STR.
Comparison with April 2019:
- Occupancy: -73.0% to 21.9%
- Average daily rate (ADR): -38.9% to GBP87.18
- Revenue per available room (RevPAR): -83.5% to GBP19.11
The absolute occupancy and RevPAR levels are the lowest for any month in STR’s London database, while absolute ADR fell below GBP90 for the first time since August 2005. The occupancy level was down from 32.7% in March.
As part of STR’s weekly video series, Director Thomas Emanuel analyzes the recent performance metrics in the United Kingdom with comparisons to other European countries. All of STR’s COVID-19 analysis can be found here.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
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