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Diamond Jubilee Increased Earnings of London Hotels

News The Queen’s Diamond Jubilee is over and so SRT Global has published the results of hotels in London during this internationally famous event.

In the beginning of June London celebrated the Jubilee during four days. The event attracted hundreds of thousands of well-wishers, both local people and visitors from all over the world. On June 2 the occupancy of hotels in London peaked and reached 90.5%. Thanks to the extended weekend Sunday night occupancy was still high – 79.3%, which is 20.8% higher comparing to usual occupancy of London hotels. The growth was reached by hotels in all segments.

When it comes to calculating revenues, Sunday (June 3) featured the highest growth of RevPAR. Here economy sector benefited the most. Geared up by increased occupancy and increased daily rates (the increase of 52.3% to £64.52 (US$99.77)), budget segment featured the growth of RevPAR of 54.6%. Upper midscale accommodations increased their occupancy by 30.9% to 80% and RevPAR added 30.9%. Hotels located in The City/Shoreditch, Wandsworth-Southbank-Tower Bridge, and Outer London reported the largest increases. Some hotels there had occupancy of 98% and higher.

The rest of the week (June 4 – 9) was less impressive as hotels in London usually benefit from business travellers, who preferred not to visit the city during that week. Therefore, starting from Tuesday occupancy fell down by 38.9%. The Diamond Jubilee is not the only large event that takes place in London this summer, so hotels in this city will definitely have a good season.


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