Record-breaking revpar increase for August in London hotels
Record-breaking revenue per available room rates for August were achieved by London hotels, according to preliminary figures released by data company STR.
Alongside a 4.5% year-on-year increase in revpar to £131.39, average daily rate also showed a healthy rise over the same month last year of 4.8% to £151.58.
While occupancy was marginally down by 0.3% to 86.7%, London climbed above 90% across 11 nights throughout the month. STR analysts said that this could be due to "the devaluation of the pound attracting international visitors to the capital".
New room supply, up 1.5%, was slightly ahead of demand for accommodation, which increased by 1.2%.
STR will release is full August results later this month.