STR's preliminary September 2020 data for London hotels showed lower occupancy but higher room rates when compared with August.
Year-over-year declines remained significant. Comparison with September 2019:
- Occupancy: -65.8% to 29.7%
- Average daily rate (ADR): -45.3% to GBP93.15
- Revenue per available room (RevPAR): -81.3% to GBP27.64
Like previous months, the occupancy and RevPAR levels are the lowest for any September on record in London.
All of STR's COVID-19 analysis can be found here.
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.