STR’s preliminary April 2019 data for London indicates high room rates.
Based on daily data from the month, London reported the following in year-over-year comparisons:
• Supply: +2.3%
• Demand: +0.7%
• Occupancy: -1.6% to 81.1%
• Average daily rate (ADR): +1.4% to GBP143.01
• Revenue per available room (RevPAR): -0.1% to GBP115.99
The absolute ADR level is the highest for any April in STR’s London database. STR analysts attribute the decrease in occupancy to supply growth, and to a lesser extent, the Easter calendar shift from early April last year.
STR will release full April results later this month.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
Logos, product and company names mentioned are the property of their respective owners.