London hotels have reported 84 percent occupancy during the first weekend of the 2012 Olympic games.
STR Global, a company that provides research findings for the hotel industry, has reported that from July 27 to 29, 2012, hotels across London registered 84.4 percent occupancy, for an average £224.72 per room. The games commenced in London on July 27, 2012.
Elizabeth Randall, the managing director of STR Global, said, ‘Hotel performance is strong, London hotels are busy. Some but not all are full; there is room in the inn but overall hotels are in a good position.
During a normal period, hoteliers are able to anticipate demand based on known trends and can therefore plan for short-notice demand to supplement cancellations and no-shows. When an international event comes to town, these variables are more difficult to control or predict.’
Hotels in the Docklands/Greenwich area of London have registered the highest occupancy rate for the Olympic period, at 94.9 percent, followed by those in the West End with 89.0 percent occupancy. Other areas in London which reported occupancies of more than 80 percent included Earls Court/ Kensington/ Chelsea; Knightsbridge/ Pimlico/ Victoria; London North/ Camden; London South; London West End; Paddington/ Bayswater; and The City/ Shoreditch areas.
Average daily rates reached the highest in the Knightsbridge, Pimlico and Victoria areas, at £399.20 per room, followed by hotels in the West End, with £329.27 per room.
The occupancy rates include physically occupied rooms at hotels, but do not include any paid rooms that are left unoccupied.