Preliminary March data from STR shows hotels in London saw a 0.9% occupancy decrease to 79.8% during the month. ADR in the market dropped 1.2% to £138.55 ($195.85) and RevPAR fell 2.2% to £110.52 ($156.23).
LONDON—STR’s preliminary March 2018 data for London, England, indicates overall performance declines.
Based on daily data from March, London reported the following in year-over-year comparisons:
• Supply: +1.9%
• Demand: +0.9%
• Occupancy: -0.9% to 79.8%
• Average daily rate (ADR): -1.2% to GBP138.55
• Revenue per available room (RevPAR): -2.2% to GBP110.52
March broke a 16-month streak as the first with a year-over-year ADR decline in London since October 2016. In addition to continued and significant supply growth, which pulls down occupancy levels, STR analysts attribute the performance decreases to unseasonably-cold temperatures, snow and strong winds that came from the Siberian weather system labeled as the “Beast from the East.”
STR will release full March results later this month. The January edition of STR’s Market Forecast and the 2017 Global Hotel Study are now available.
Marketing & Communications
+44 (0)207 922 1979
Director of Marketing, Research & Analysis
+44 (0)207 922 1965
The above is a news release written by a third party. While HNN’s editorial mission is to produce unique content, it occasionally publishes timely, newsworthy news releases to complement in-house reporting efforts. All news releases are clearly marked as such. For questions and clarification, please contact Editor-in-Chief Stephanie Ricca at email@example.com.