According to STR Global, hoteliers across London
reported 84.4% occupancy and £224.72 average room rates from 27
July until 29 July 2012. The London 2012 Olympic Games officially
started Friday, 27 July 2012.
"Hotel performance is strong, London hotels are
busy. Some but not all are full; there is room in the inn but
overall hotels are in a good position," said Elizabeth
Randall, managing director of STR Global.
Historically, Olympic host cities do not sell
out, Randall added. Reviewing hotel performance over the past four
summer games, back to 1996 in Atlanta, none of the host cities'
occupancy surpassed 90% for the months in which the
Olympics occurred, according to STR Global.
"During a normal period, hoteliers are able to
anticipate demand based on known trends and can therefore plan for
short- notice demand to supplement cancellations and no-shows,"
Randall said. "When an international event comes to town, these
variables are more difficult to control or predict."
Occupancy has been trailing behind last year for
most of June and July. Recent days' occupancy achieved around 85%.
The Docklands/Greenwich submarket achieved the
highest occupancy for the Olympic period through 29 July with 94.9%, followed by the West End with 89%.
Knightsbridge/Pimlico/Victoria achieved the
highest ADR for the Olympic period through 29 July with £399.20,
followed by the West End with £329.27.
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