News & numbers Surveying
Hotel Management International looks at STR’s 2022 Independent Hotel Show Report to fi nd out the latest performance recovery for London.
Real ADR recovery began in July UK weekly ADR indexed to 2019, January – July 2022
Real ADR index 130 Nominal ADR index
the Big Smoke A
120 110 100 90 80 1 Jan 22 Jan 12 Feb 5 Mar 26 Mar 16 Apr 7 May 28 May 18 Jun 9 Jul 30 Jul Source: STR
July 2022 YTD vs July 2019 YTD Independent
Occupancy 64.4% Average daily rate £252.46 +28.3% +11.6% +18.3% Occupancy Source: STR ADR +4.8% RevPAR -14.6% Occupancy ADR -4.7% RevPAR
Revenue per available room £162.57
Branded Occupancy
70.5% Average daily rate £158.84
Revenue per available room £111.90
s the disruption of the pandemic subsided, performance in London began to ramp up in the first quarter of 2022, with RevPAR above 2019 comparables for each month from May to July. Like many markets around the world, top-line performance recovery has been driven mainly by ADR, as occupancy was still 5.6% below pre-pandemic levels in July for London and 1% in regional UK. Occupancy recovery has been consistent across both independent and branded segments on weekends as opposed to weekdays. This aligns with global trends as leisure demand – which is more prevalent on the weekends – has been the primary driver. Occupancy on the books and pickup has shown similar trends in London and regional UK, with independent properties slightly higher as well as weekend spikes. The expectation is for levels to strengthen as long as there is no further impact from inflation due to the war in Ukraine. While ADR is a continuing driver of recovery for RevPAR, which is forecasted to eclipse pre- pandemic comparables for major European markets in late 2022 and early 2023, it is expected plateau as occupancy should improve gradually as more demand returns to the market. Full RevPAR is not projected for another few years when adjusting for inflation, however, around Europe and the UK. ●
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