Preliminary March data shows demand outpaced supply among hotels in London, leading to a 2.1% occupancy increase.
STR’s preliminary March 2019 data for London indicates strong performance.
Based on daily data from the month, London reported the following in year-over-year comparisons:
- Supply: +2.5%
- Demand: +4.6%
- Occupancy: +2.1% to 81.6%
- Average daily rate (ADR): +1.7% to GBP138.13
- Revenue per available room (RevPAR): +3.8% to GBP112.68
The absolute RevPAR level is the highest for any March in STR’s London Database. STR analysts attribute the performance to several events in the market—a pair of Six Nations rugby matches (9 March and 16 March) and the Passenger Terminal EXPO (26-28 March).
STR will release full March results later this month.
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