STR Global’s preliminary October 2015 data for London, England, indicates significant increases in several key performance metrics. Based on daily data from October, London reported:
- increases in supply (+1.8%) and demand (+2.2%);
- a 0.4% increase in occupancy to 87.8%;
- an 11.9% increase in average daily rate to GBP159.29; and
- a 12.3% increase in revenue per available room to GBP139.79.
ADR was the main driver of performance for the month as hotels benefitted from the Rugby World Cup and two National Football League games. In addition, Helitech International and TabExpo were both held in the city.
Supply growth in London had outpaced demand in each of the previous two months.
STR Global will release October 2015 results later this month. The November edition of the STR Global Hotel Market Forecast will be available at the end of the month.
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