London hotel sector flat in March

London hotel sector flat in March

STR Global data shows performance of capital's hotel sector remained average at best through March

STR Global data shows performance of capital's hotel sector remained average at best through March

STR Global has released its preliminary data for London’s hotel sector for March, indicating a flat performance across the board. London b

Key findings include an increase in supply of 3.7% and demand of 2%; a 1.7% decrease in occupancy to 78.6%; a 1.1% increase in the average daily rate to £133.77; and a a 0.6% decrease in revenue per available room to £105.16.

“Whilst London reported a 0.6% year-over-year decrease in RevPAR, absolute figures remained high at £105.00 for March,” said Elizabeth Winkle, managing director of STR Global. “An increase in supply outpaced room demand growth in the city. The new rooms in the capital put pressure on occupancy resulting in year-over-year decline; however, levels remain above 75%. ADR, on the other hand, fared well this month with growth of 1.1%.”

 

Gary Marshall
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Gary Marshall
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