STR Global Reports Olympic Occupancy Increases for London Hotels
By James Ruggia
August 08, 2012 11:00 PM
With an 87.7 percent occupancy rate, London’s hotels saw a 3.2 percent increase during the first week of the Olympic Games, July 27 to Aug. 5, according to STR Global. The hotels achieved a £216.42 ($338.88) average room rate during that time, an increase of 87.1 percent compared to the same days in 2011. STR Global tracks daily performance from more than 2,400 hotels across the United Kingdom.
“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,” said Elizabeth Randall Winkle, managing director of STR Global.
The Olympic football tournament has been taking place across six venues, five being outside of London, as 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, with each match boosting occupancy levels to 90 percent and above for the night of the game.