STR Global: Olympic Update

LONDON -- STR Global, the leading service provider of market information to the hotel industry, is reporting the recent performance of London hotels during the 2012 Olympic Games. The games started with the opening ceremony on Friday, 27 July 2012.

From 27 July until 5 August 2012, hoteliers across London reported 87.7 percent occupancy and £216.42 average room rate (ADR). This represents an increase of 3.2 percent and 87.1 percent, respectively compared to the same days the year prior. STR Global tracks daily performance from more than 2,400 hotels across the United Kingdom.

“Hotels across London continue to report increasing occupancy levels and average room rates during the Olympic period when compared to last year”, said Elizabeth Randall Winkle, managing director of STR Global. “We are also seeing improvement from weaker occupancy performances in June and early July so it is good to see that performance has been picking up during the Olympics. However, Heathrow and Gatwick, in the west and south of London and therefore less convenient for Olympic venues, have reported occupancy declines for the Olympic period”.

The Olympic football tournament has been taking place across six venues, five being outside of London: Cardiff, Coventry, Glasgow, Manchester and Newcastle all hosted matches. Cardiff and Coventry saw the most matches so far with 10 and 11 games, respectively. Both markets have a smaller hotel offering than the other host cities and both hosted Team Great Britain matches. The most matches with the men and women home teams took place in the Welsh capital; Cardiff saw four matches, each match boosting occupancy levels to 90 percent and above for the night of the game.

The daily data for this article was extracted on 7 August at 11.30 am. Note, that the occupancy reported to STR Global is based on physically occupied rooms, which means any paid and unoccupied rooms are excluded.

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STR () provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering the United States, Canada, Mexico and Caribbean. STR provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR founded the STR family of companies and is proudly associated with STR Global, RRC Associates, STR Analytics, and HotelNewsNow.com. STR also founded the Hotel Data Conference ().