May was the first month this year with the market’s ADR above GBP200. In addition, the occupancy level was London’s highest since November 2022.
LONDON – London’s hotel industry reported its highest revenue per available room (RevPAR) since October 2022, according to preliminary May 2023 data from STR.
May 2023 (year-over-year % change)
- Occupancy: 80.5% (+3.5%)
- Average daily rate (ADR): GBP204.52 (+18.9%)
- Revenue per available room (RevPAR): GBP164.54 (+23.1%)
May was the first month this year with the market’s ADR above GBP200. In addition, the occupancy level was London’s highest since November 2022.
London’s occupancy peaked on 23 and 27 May (92.5%), which was one of the three bank holiday weekends in the U.K., 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.
The market’s daily occupancy levels remained above 60% throughout the month with only one day falling below that mark (8 May, at 57.7%).
Tatiana is the news coordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes monitoring the hundreds of news sources of TravelDailyNews Media Network and skimming the most important according to our strategy.
She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
