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August 9, 2012

STR Global: Olympic update

(London – 09th August 2012) STR Global, the leading service provider of market information to the hotel industry, is reporting the recent performance of London hotels during the 2012 Olympic Games. The games started with the opening ceremony on Friday, 27 July 2012.

From 27 July until 5 August 2012, hoteliers across London reported 87.7 percent occupancy and £216.42 average room rate (ADR). This represents an increase of 3.2 percent and 87.1 percent, respectively compared to the same days the year prior. STR Global tracks daily performance from more than 2,400 hotels across the United Kingdom.

“Hotels across London continue to report increasing occupancy levels and average room rates during the Olympic period when compared to last year”, said Elizabeth Randall Winkle, managing director of STR Global. “We are also seeing improvement from weaker occupancy performances in June and early July so it is good to see that performance has been picking up during the Olympics. However, Heathrow and Gatwick, in the west and south of London and therefore less convenient for Olympic venues, have reported occupancy declines for the Olympic period”.

The Olympic football tournament has been taking place across six venues, five being outside of London: Cardiff, Coventry, Glasgow, Manchester and Newcastle all hosted matches. Cardiff and Coventry saw the most matches so far with 10 and 11 games, respectively. Both markets have a smaller hotel offering than the other host cities and both hosted Team Great Britain matches. The most matches with the men and women home teams took place in the Welsh capital; Cardiff saw four matches, each match boosting occupancy levels to 90 percent and above for the night of the game.

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