Based on STR Global daily data from November, London shows positive growth in the three major key performance indicators:
• increases in supply (+1.7 percent) and demand (+2.8 percent);
• a +1.1-percent increase in occupancy to 83.7 percent;
• a +5.3-percent increase in average daily rate to GBP145.10;
• a +6.4-percent rise in revenue per available room to GBP121.48; and
• RevPAR is expected to grow by +4.0 percent in 2014.
“The pace of rate growth has slowed compared to the previous two months; however, ADR remains the driving force for a positive RevPAR performance”, said Elizabeth Winkle, managing director of STR Global. “In particular, the strong second half of the year results in a slight positive growth in RevPAR for 2013, which we expect to continue to grow in 2014”.
STR Global will release November 2013 results in two weeks. The November 2013 edition of the STR Global Hotel Market Forecast is available now.
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, RRC Associates, STR Analytics and Hotel News Now. For more information, please visit www.strglobal.com.
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