UK luxury hotel occupancy rises to almost 70% in 2024, but falls for budget segment

The luxury hotel market has continued to strengthen as guests have upgraded their choice of hotel, with occupancy of UK luxury hotels rising from 68.2% in 2023 to 69.8% in 2024, according to the RSM Hotels Tracker: Focus on Asset Classes.

It also found that occupancy for mid market hotels rose from 75.8% to 78.1% in the year, but fell from 78.5% to 75.3% across budget hotels.

The data shows that average room rates of UK luxury hotels rose from 2023’s £327.33 to £358.69 in 2024, even greater in London, rising from £388.85 to £432.06, mid market rates increased slightly from £133.03 to £135.75, but rates were flat for budget hotels at £97.77.

More News & Views

by Becky Hoyle 20 July 2026
ASAP Operator Member Frasers Hospitality has announced the soft opening of Fraser Residence Wuzhen. Located in the historic 1,300-year-old water town dating from the Tang Dynasty, the property marks Frasers Hospitality’s first entry into this, one of China’s renowned cultural and tourism destinations. Read more >
by Sarah Tasker 16 June 2026
AI- and tech-powered hospitality operator Bob W has announced plans to open a new 136-unit aparthotel in Stuttgart’s historic Bad Cannstatt district. Scheduled to open in 2027, The new property will open in 2027, occupy a site on the location of a former World War II bunker. Read more >
by Becky Hoyle 16 June 2026
ASAP Operator Member Supercity is set to open a new 46-suite aparthotel property in York later this month, on a site previously held by vacant commercial units, including a van hire centre and a restaurant. Supercity’s portfolio includes eight aparthotels across London, Manchester, Leeds, Brighton and Edinburgh, and t he company was recently ranked 16th in the list of the top 30 employers in The Caterer’s Best Places to Work in Hospitality 2026 survey. Read more >
by Becky Hoyle 20 July 2026
ASAP Operator Member Frasers Hospitality has announced the soft opening of Fraser Residence Wuzhen. Located in the historic 1,300-year-old water town dating from the Tang Dynasty, the property marks Frasers Hospitality’s first entry into this, one of China’s renowned cultural and tourism destinations. Read more >
by Sarah Tasker 16 June 2026
AI- and tech-powered hospitality operator Bob W has announced plans to open a new 136-unit aparthotel in Stuttgart’s historic Bad Cannstatt district. Scheduled to open in 2027, The new property will open in 2027, occupy a site on the location of a former World War II bunker. Read more >

ASAP Industry Development Sponsors 2025

The support of our sponsors is essential for our efforts in advocating for our members and interacting with policymakers.