STR’s preliminary June 2016 data for London, England, indicates negative performance in comparison with a strong June 2015.
Based on daily data from June, London reported the following in year-over-year comparisons:
- an increase in supply (+2.5%) and a decrease in demand (-1.8%);
- a 4.2% decrease in occupancy to 84.4%;
- a 1.9% decrease in average daily rate (ADR) to GBP155.40;
- a 6.0% decrease in revenue per available room (RevPAR) to GBP131.17.
London’s absolute occupancy exceeded 90% on nine days in June 2016, compared with 15 days of occupancy above 90% in June 2015. Even with the nine days, the month’s 2016 occupancy level was the lowest for a June in London since 2012.
STR will release actual June 2016 results during the week of 25 July.