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STR will release full June results later in July STR will release full June results later in July

STR: Preliminary June Data for London Hotels

STR’s preliminary June data for London, UK, indicates higher occupancy but lower rates.

London hotels reported occupancy rose 2.2 percent to 86.1 percent in June, according to preliminary STR monthly data. While ADR dipped 0.6 percent to GBP160.84 (USD213.06), RevPAR increased 1.6 percent to GBP138.46 (USD183.42). Based on daily data from June, London reported a supply increase of 1.9 percent while demand rose by 4.1 percent.

STR analysts noted that market demand was boosted by various concerts throughout the month, such as Beyoncé and Jay-Z and Ed Sheeran. Favourable weather conditions also helped hotel performance. June was London’s first month with a year-over-year occupancy increase since May 2017. On the other hand, June was the fourth month in a row with an ADR decrease after 16 straight positive months in the metric.