The Oasis concerts at Wembley and tennis championships at Wimbledon helped London hotel room rates reach record highs in July, according to new data.
The capital’s hotel industry saw its highest average daily rate and revpar (revenue per available room) on record during the month, the data said. average daily rate was £234.58 (up 2.4% year on year) and revpar was £207.93 (up 3.3% year on year).
Occupancy was also 88.6% (up 0.9% year on year), the highest level since July 2018.
Wimbledon pushed London performance levels to monthly highs on the night of the women’s finals – Saturday 12 July – when occupancy was 94.7%, average daily rate was £276.72 and revpar was £262.01. The night was also boosted by the men’s finals being held the following day.
Overall, the market’s occupancy came in above the 90% mark on all but three nights of the championships. For the nights of the three Oasis concerts at Wembley – 25, 26 and 30 July – performance levels peaked on the night of the second performance, when occupancy was 91.6%, average daily rate was £239.33 and revpar was £219.15. London’s occupancy levels remained above the 80% mark throughout the month on all but two days.