Reflection, change and where our industry goes next by Jacqui Kavanagh
The events industry isn’t broken, but it IS being quietly reshaped in ways many aren’t fully prepared for. Two years ago, after 18 years, I...
November London room rates rise as occupancies drop
Room rates in London continued to rise during November, but occupancies were slightly down, according to the latest preliminary figures from data company STR.
Average daily rate (ADR) and revenue per available room (revpar) increased by 1.6% to £158.94 and 1.3% to £136.43 respectively compared to the same month in 2018, while occupancy dropped 0.4% to 85.8%.
The ADR and revpar levels were said to be the highest for any November in STR’s records for the capital.
The CBI annual conference on 18 November helped drive performance, with revpar increasing by 20.2% that day.
A 2.1% increase in new rooms was slightly ahead of the 1.8% rise in demand.
STR will release its full November results later this month.
