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12 Jan 2018

BY Edward Robertson

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London hotels see numbers drop as pound strengthens

The Brexit effect is wearing off on London’s hotels as occupancy levels fell in December.

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London hotels see numbers drop as pound strengthens

Data released by analysts STR shows that occupancy of London’s hotels fell 2.7% to 77.9% last month.

 

The drop was blamed on the pound which is now growing against other currencies having originally taken a sharp drop of value after the Brexit vote and so driving overseas visitor numbers.

 

The fall in occupancy occurred as supply grew by 3.1% while demand was marginally up by 0.3%.

 

Meanwhile, revenue per available room fell by 2.3% to £115.99 despite the average daily rate growing by 0.4% to £148.85.

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