According to STR Global’s preliminary daily data
from March 2014, hotels in London reported positive growth in the
following key performance indicators:
- increases in supply
(+1.1%) and demand (+1.9%); - a 0.8%
increase in occupancy to 79.9%; - a 7.7% increase
in average daily rate to £132.88; and - an 8.6% rise
in revenue per available room to £106.17.
“London closed
a positive first quarter by posting the highest RevPAR levels of
any March since STR Global began tracking hotel performance for
the market in 1993,” said Elizabeth Winkle, managing director of
STR Global. “ADR continued to be the driving force behind this
trend, off the back of a rather weak first quarter in 2013, where
additional supply had an overall negative effect on rate.”
STR,
London
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