STR Global’s preliminary February 2015 data for London indicates positive hotel performance.
Based on daily data from February, London reported:
- increases in supply (+3.5 percent) and demand (+4.1 percent);
- a 0.6-percent increase in occupancy to 77.3 percent;
- a 0.7-percent increase in average daily rate to GBP128.47;
- a 1.3-percent increase in revenue per available room to GBP99.34; and
- a 3.2-percent increase in RevPAR is expected in 2015.
Record levels in occupancy and ADR
“London continued its positive trend, reporting record levels in occupancy and ADR of any February for more than a decade, resulting in RevPAR levels just shy of GBP100 for the month”, said Elizabeth Winkle, managing director of STR Global. “Hotel performance is expected to accelerate for the remainder of the year, mainly driven by increases in rate. Performance in 2015 is expected to remain strong in the capital and throughout the U.K. with economic trends and events like the Rugby World Cup toward the end of the year”.
STR Global will release February 2015 results in two weeks. The February edition of the STR Global Hotel Market Forecast is now available.
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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