Average daily rate (ADR) refers to the average price a room is sold for - it is calculated as room revenue divided by rooms sold. In Q2 of 2023, the nominal average daily rate for hotels in the United Kingdom's capital, London, stood at 206.9 British pounds, while the real average rate totaled 151 British pounds.
Other important KPIs of the London hotel market
As one of the most popular tourist destinations in Europe, London’s hotel market is in a prime position for growth. Following the difficulties that the coronavirus (COVID-19) pandemic presented to the tourism industries in both the UK and worldwide, hotel occupancy rates in London stabilized, reaching over 80 percent in Q2 of 2023. Meanwhile, the nominal RevPAR in London hotels in the same quarter was around 170 British pounds.
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PwC. (December 6, 2023). Average daily rate of hotels in London, United Kingdom in 1st quarter and 2nd quarter 2023, with a forecast until 4th quarter 2024 [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/323752/annual-hotel-adr-in-london-uk/
PwC. "Average daily rate of hotels in London, United Kingdom in 1st quarter and 2nd quarter 2023, with a forecast until 4th quarter 2024." Chart. December 6, 2023. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/323752/annual-hotel-adr-in-london-uk/
PwC. (2023). Average daily rate of hotels in London, United Kingdom in 1st quarter and 2nd quarter 2023, with a forecast until 4th quarter 2024. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/323752/annual-hotel-adr-in-london-uk/
PwC. "Average Daily Rate of Hotels in London, United Kingdom in 1st Quarter and 2nd Quarter 2023, with a Forecast until 4th Quarter 2024." Statista, Statista Inc., 6 Dec 2023, https://www.statista.com/statistics/323752/annual-hotel-adr-in-london-uk/
PwC, Average daily rate of hotels in London, United Kingdom in 1st quarter and 2nd quarter 2023, with a forecast until 4th quarter 2024 Statista, https://www.statista.com/statistics/323752/annual-hotel-adr-in-london-uk/ (last visited November 21, 2024)
Average daily rate of hotels in London, United Kingdom in 1st quarter and 2nd quarter 2023, with a forecast until 4th quarter 2024 [Graph], PwC, December 6, 2023. [Online]. Available: https://www.statista.com/statistics/323752/annual-hotel-adr-in-london-uk/