BTN Europe presents an overview of business travel and MICE predictions for this year
London hotel rates are expected to rise during the second half of 2015, according to the latest price data from research firm STR Global.
The UK capital saw average daily rate (ADR) increase by 4.3 per cent in July to £151.27, compared to the same month in 2014.
The market was boosted by a 5.4 per cent upswing in demand during the month as occupancy went up by 2.7 percentage points to reach 88.3 per cent year-on-year.
This compares to a fall in ADR of 1.9 per cent in June, which has been partly blamed on the earlier dates for the holding of Ramadan this year.
“London saw accelerated occupancy and ADR growth following the conclusion of Ramadan (on July 17) as hotels capitalised on an influx of visitors from the Middle East,” said STR in its report.
“The commencement of UK school holidays in mid-July also brought families to the capital, and the strength of the US dollar relative to the British pound has contributed to an increase in US visitors.
“After a slow first half of 2015, July’s demand growth and improved performance indicators point to a stronger second half for London.”
During July, the number of hotel rooms available in London rose by 2.7 per cent compared to same month in 2014.