STR to give away free Independent Hotel Report at the show
STR is committed to working with independent hotels to help them strengthen their market share through enhanced performance insights. As a proud partner to the Independent Hotel Show, we are excited to share complimentary data with all independent hotel owners and operators attending the conference.
Any independent hoteliers who visit STR’s stand this year can receive STR’s free Independent Hotel Report, an in-depth analysis of performance and development trends for the U.K.’s independent hotels. As a preview for some of the insights that will go into this report, below is a brief update on how the market performed in the first half of the year.
U.K. hotels had a record-breaking H1. The market posted its highest ever occupancy, average daily rate (ADR) and revenue per available room (RevPAR) levels, largely thanks to the devaluation in pound sterling following the June 2016 Brexit vote. This has resulted in strong tourism growth across the U.K., which has in turn benefitted the country’s hotel sector.
Independent hotels have clearly shared in this performance uptake. For the first six months of the year, independent hotels in the U.K. recorded a 1.9% increase in occupancy to an actual level of 71.2%, a 7.8% increase in ADR to GBP122.81 and a 9.9% increase in RevPAR to GBP87.49.
According to recent figures published by VisitBritain, total visits to the U.K. were up 9% from January to May 2017. While arrivals from Europe were up just 5% during the first five months of the year, arrivals from North America increased 22%, and visits from the rest of the world were up 25%. VisitBritain’s findings also show that visitor spending increased 14% for the January to May period, indicating that many travelers are taking advantage of the more favorable currency exchange rate. This aligns with the country’s hotel rate growth, for both branded and independent properties alike.