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.
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.
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