Preliminary data from STR Global for March suggest London hotels showed positive growth in the key performance indicators, with a 0.8 per cent increase in occupancy, to 79.9 per cent, recorded.
Supply of hotel rooms increased 1.1 per cent, while demand increased 1.9 per cent), and the average daily room rate increased 7.7 per cent to £132.88 when compared to a year earlier.
STR also recorded an 8.6-per cent 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 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.