STR Global’s preliminary October data for London indicates flat hotel performance year over year.
Based on daily data from October, London reported:
* increases in supply (+3.2 percent) and demand (+3.0 percent);
* a 0.1-percent decrease in occupancy to 88.0 percent;
* a 0.1-percent increase in average daily rate to GBP152.69; and
* no change in revenue per available room, which remained at GBP134.44.
“London hotel performance for October remained flat for the month”, said Elizabeth Winkle, managing director of STR Global. “This performance remains in line with what we saw last month, with occupancy levels close to 90 percent and ADR above GBP150.00. October is not only a strong business month, but many countries in Europe have midterm school breaks, attracting a lot of tourists during this month”.
STR Global will release October 2014 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.
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