Room rates and occupancy fall in London due to Champions League

10 June 2014 by
Room rates and occupancy fall in London due to Champions League

May was the first month this year to record a fall in occupancy and room rates in London hotels, as a result of comparisons with strong results a year before, according to preliminary new data from STR Global.

The UEFA Champions League final held at Wembley Stadium on 25 May 2013 resulted in a record performance for London hotels. In comparison, this May hotels experienced a 1.7% decline in occupancy to 84.5%.

Average daily rates and revenue per available room (revpar) also fell by 0.3% to £142.85 and 2% to £120.76 respectively.

Meanwhile, hotel supply increased by 1.7% and demand stayed flat.

Elizabeth Winkle, managing director of STR Global, said: "May was the first month in 2014 to report negative hotel performance for London, primarily impacted by the 2013 UEFA Champions League Final, which pushed hotel performance to new levels for the month last year.

"The rest of the year, however, looks positive all through, as the UK economy and the eurozone are expected to grow further".

STRGGlobal predict an overall increase of 5% in revpar during 2014.

Record occupancy and rooms rates in London hotel for April >>

Demand for London hotels stays ahead of supply >>

London's revpar increases six months in a row >>

TagsTrends and Hotels
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking