London’s hotel occupancy rate, a measure of how many rooms there are in a hotel, has fallen to the lowest level in the country for the first time since 2011, according to the Office for National Statistics.
The ONS said in a statement on Friday that London’s rate was down from 4.8% in October.
The London hotels that have the lowest occupancy rates have been Marriott Resorts, Holiday Inn Express, Holiday UK and Westfield Stratford.
The Office for Budget Responsibility (OBR) said that while this is a positive sign, there is still much room for improvement for hotel occupancy.
“The OBR will be closely monitoring hotel occupancy figures to ensure they remain stable,” it said.
It noted that the overall rate of hotel occupancy in the UK was lower than that of London’s surrounding areas and that the average occupancy rate in London is only 3.6%.