Hotels in London Experience Increase in RevPAR in February 2015

STR Global’s preliminary February 2015 data from hotels in London indicates positive hotel performance.

Based on daily data from February, London reported:

- increases in supply (+3.5%) and demand (+4.1%) and
- a 0.6% increase in occupancy to 77.3%;
- a 0.7% increase in ADR to £128.47;
- a 1.3% increase in RevPAR to £99.34; and
- a 3.2% increase in RevPAR is expected in 2015.

“London continued its positive trend, reporting record levels in occupancy and ADR of any February for more than a decade, resulting in RevPAR levels just shy of £100 for the month,” said Elizabeth Winkle, managing director of STR Global. “Hotel performance is expected to accelerate for the remainder of the year, mainly driven by increases in rate. Performance in 2015 is expected to remain strong in the capital and throughout the U.K. with economic trends and events like the Rugby World Cup toward the end of the year.”