Absolute occupancy levels for London hotels in July lowest on STR records

Hospitality industry data benchmarking company STR’s preliminary July data for London hotels showed record low occupancy for July 2020. In comparison with July 2019, occupancy dropped by 74.8% to 22.8%. Average daily rate more than halved (52.4%) to £83.61 (US$109.14), while revenue per available room (RevPAR) was down 88% to £19.02. The absolute occupancy level would be the lowest for any month on record in STR’s London database. ADR and RevPAR were up from June levels, however, and regional markets in the UK continue to outperform capital cities, according to STR. The agency’s most recent video on weekly UK performance, covering 27 July through 2 August, can be found here. More STR Covid-19 analysis can be found here. STR has a presence in 15 countries with a corporate North American headquarters in Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore.