London enjoyed occupancy growth of 2.6% and ADR gains of 6.3% driving RevPAR growth of 9%, compared to the same period last year.
The surge in overseas tourism has been boosted by North American visitors, with sterling at the lowest it’s been against the dollar for 30 years.
Also, more budget hotels in the supply mix have helped London occupancies stay high.
The results are still remarkable against the backdrop of an uncertain corporate and consumer outlook, recent terrorist attacks, and high levels of new supply openings.
The tourism boom means that for 2017 as a whole, PwC's revised forecast is now much stronger than anticipated in March this year. The company now forecasts year-on-year London occupancy growth of 2.3% and a robust RevPAR gain of almost 6% this year in 2017.
(source: PcW)