According to STR Global’s preliminary daily data from February, London showed positive growth in the following key performance indicators:
- increases in supply (+1.2 percent) and demand (+2.9 percent);
- a 1.6-percent increase in occupancy to 76.8 percent;
- a 4.9-percent increase in average daily rate to GBP128.12;
- a 6.6-percent rise in revenue per available room to GBP98.34; and
- a 4.2 percent increase in RevPAR is expected in 2014.
“London continued to grow RevPAR in February for the sixth month in a row, mainly driven by an increase in ADR,” said Elizabeth Winkle, managing director of STR Global. “The fast growing U.K. economy as well as the continuing recovery of the Eurozone suggests a positive outlook in terms of hotel performance for the British capital in 2014.”
STR Global will release February 2014 results in two weeks. The February edition of the STR Global Hotel Market Forecast is available with immediate effect.
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, STR Analytics and Hotel News Now.
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