London received enormous global attention during
H.M. the Queen's Diamond Jubilee, as the city hosted festivities
over four days earlier this month.
Hundreds of thousands of well-wishers lined up
along the River Thames, or along the streets between St Paul's
Cathedral and Buckingham Palace, parties were held around the
country, while millions more watched on television and the
According to STR Global, hotels in London saw
occupancy rates reach 90.5% on Saturday night (2 June) and
benefited from the extended weekend to boost the traditionally low
Sunday night with occupancy reaching 79.3%, an average increase of +20.8%.
"The Jubilee weekend has been a
fantastic opportunity for London to once again showcase its
heritage and pageantry and to be under the spotlight as a
destination capable of handling large scale events," said
Elizabeth Randall, managing director at STR Global. "Across all
hotel segments, performance increased during Saturday and Sunday,
as the festivities came to their climax. However due to the public
holidays during Monday and Tuesday (4-5 June), the missing
business and meeting travelers impacted the weekday performances."
Sunday night saw the biggest RevPAR growth for
hotels in London. Hotels in the
Economy class sector saw the largest RevPAR growth (+54.6) on Sunday night
when compared to the previous year, led by an increase in ADR of 52.3% to £64.52. The Upper Midscale class increased
RevPAR by 30.9% on the same night, led by a 30.9% increase in occupancy to 80%.
Sunday night saw the
biggest RevPAR improvements in three out of nine London markets.
Wandsworth-Southbank-Tower Bridge, Outer London and The City/Shoreditch
areas reported increases of 73.5%, 43.2% and 31.4%, respectively.
The highest occupancy of the five-day
period was achieved Saturday night (2 June) in an area south of
the river between Wandsworth and Tower Bridge reporting 98.4%, as guests benefited from the
proximity to the River
Pageant on Sunday.
The highest rate of the five-day period could
be found, as it is traditionally in the Knightsbridge/Pimlico/Victoria
market with £227.48 on Friday night.
The rest of the week
(4-9 June), on the other hand, was more challenging for hoteliers
as the traditional corporate business was replaced by leisure
visitors. London hotels saw the biggest drop Tuesday with
occupancy declining by 38.9% to 57.6%, compared to
the previous year.
STR Global tracks more than 41,000 daily
rooms around London across all segments.
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