A survey by STR revealed that occupancy rates for London hotels fell by 2.7% in December as a result of the controversial decision by Brexit, which consists of separating the UK from the European Union.

The Brexit effect made the pound sterling, the official currency of the United Kingdom, devalue in comparison to the others, which culminated in the fall of trips to the countries of the region. The reduction of reserves occurred due to high supply (3.1%) and low demand (0.3%). Revenue per room fell 2.3% despite a daily rate of growth of 0.4%.

Source: market & events

Photo: Press Release