According to?STR Global?s preliminary daily data from March, London showed positive growth in the following key performance indicators:
- increases in supply (+1.1 percent) and demand (+1.9 percent);
- a 0.8-percent increase in occupancy to 79.9 percent;
- a 7.7-percent increase in average daily rate to GBP132.88; and
- an 8.6-percent rise in revenue per available room to GBP106.17.
?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 Global will release March 2014 results in two weeks. The February edition of the STR Global Hotel Market Forecast is available now.
About STR Global:
STR Global provides clients-including hotel operators, developers, financiers, analysts and suppliers to the hotel industry-access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, segmentation data, forecasts, annual profitability, pipeline and census information. Hotel operators can join the surveys on a complimentary basis and benefit from free industry data. STR Global is part of the STR family of companies and is proudly associated with STR, RRC Associates, STR Analytics and Hotel News Now. For more information, please visit?www.strglobal.com.
Source: Positive Results for London Hotels for March 2014, Hotel News Resource http://www.hotelnewsresource.com/article77309.html published Apr 10, 2014. Viewed Apr 11, 2014.