London Luxury Hotels in Worst Year Since 2009 on Terror Risk
- Wealthy travelers also put off by `Brexit' vote, U.S. election
- Russian tourists encouraged to stay at home on ruble weakness
Cutlery and glasses are seen in a private dining room at D&D London Ltd's South Place hotel in London, U.K., on Thursday, Sept. 13, 2012. London hotels' average room rates rose 87 percent for the Olympic Games and hoteliers reported a slight occupancy increase, according to data compiled by hotel industry researcher STR Global.
Photographer: Chris Ratcliffe/BloombergJitters about everything from the risk of terrorism to Britain’s membership of the European Union are battering London luxury hotels as the world’s wealthiest travelers stay away.
The city’s priciest hotels were only 65 percent occupied in the three months through March, according to data provider STR. That was the lowest for a first quarter since a global recession roiled the market in 2009 and down from 70 percent a year earlier. London’s top hotels include the Savoy and the recently reopened Lanesborough, where the Royal Suite with a complementary chauffeured Rolls-Royce costs about 25,000 pounds ($36,000) per night.