According to STR Global’s preliminary daily data from January, London showed positive growth in the following key performance indicators:
* increases in supply (+1.1 percent) and demand (+4.5 percent);
* a 3.4-percent increase in occupancy to 68.0 percent;
* a 3.5-percent increase in average daily rate to GBP122.12; and
* a 7.0-percent rise in revenue per available room to GBP83.02.
“2014 started off well for London with growth in RevPAR for the first month of the year,” said Elizabeth Winkle, managing director of STR Global. “However, the RevPAR increase is off the back of a rather weak January in 2013. While occupancy remained below 70 percent for the fourth year in a row, ADR achieved record levels for any January since 1994.”
STR Global will release January 2014 results in two weeks. The next edition of the STR Global Hotel Market Forecast will be available by the end of February.
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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