Based on STR Global daily data from September, preliminary data for Greater London shows:
- increases in supply (2.1 percent) and demand (1.8 percent);
- a 0.3-percent decrease in occupancy to 88.3 percent;
- a 9.0-percent increase in average daily rate to GBP153.84; and
- an 8.7-percent rise in revenue per available room to GBP135.85.
“Occupancy remained flat as expected due to supply increases; however, the jump in ADR was a welcomed surprise for many hoteliers”, said Elizabeth Winkle, managing director of STR Global. “London has seen the highest September ADR in the last 18 years; this was driven mostly by the Midscale and Economy segments.”
STR Global will release final September 2013 results in two weeks.
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.