Average daily hotel rates in London rose by 5.4 per cent in September to reach £209.97, with live performances from big-name music acts and a major defence industry event helping to push up prices during the month.
The UK capital’s hotels benefited from high-profile concerts by Oasis, Lewis Capaldi and Lady Gaga in September, according to CoStar Group, which owns hotel data specialist STR.
Hotel rates also peaked during the first night (9 September) of the DSEI defence industry exhibition, which was held at the ExCeL exhibition centre in east London.
London’s hotels achieved an occupancy rate of 86.5 per cent in September, which was an increase of 3.3 percentage points compared with September 2024’s occupancy.
This demand helped to raise revenue per available room (revpar) in London to £181.69 for the month, which was an increase of 8.9 per cent year-on-year.
CoStar also highlighted the performance of Milan’s hotel sector last month, which achieved record room rates in September thanks to hosting the Italian Formula 1 Grand Prix and the city’s Fashion Week.
Average daily rate (ADR) in Milan rose by nearly 15 per cent year-on-year to reach €292.27 in September, as occupancy soared by 6.1 points to 82.2 per cent during the month. ADR peaked at €414.57 on 6 September, which was the second night of the Grand Prix meeting.