Last year was definitely a positive one for hotels in London that enjoyed record results throughout the year, but 2015 certainly turns out to be an exceptional year. Even average performance for hotels in London is great result for many gateway cities.
The growth of occupancy of London hotels is expected to reach 1% according to forecast of PwC experts. The total occupancy will be 84%, and the average daily rate is expected to add 1.8% in 2015 and estimate £142. The Rugby World Cup is one of several reasons for the increase of occupancy and ADR in the second half of 2015. The growth of the abovementioned metrics will boost revenue per available apartment (RevPAR) by 2.7% to £119. In 2016, the market is expected to slow down and post lower results. The growth of occupancy is expected to reach only 0.3%. Together with growing average daily rate of £ 145 (+2.2%), RevPAR will add 2.3% in 2016 and estimate £122.
Since 2006, occupancy of hotels in London has been raising and managed to reach from 80% to 84% forecasted for the 2015. This will make the annual occupancy for 2015 the highest this decade.