Positive Preliminary Data from Hotels in London for March 2014

According to STR Global’s preliminary daily data from March 2014, hotels in London reported positive growth in the following key performance indicators:

- increases in supply (+1.1%) and demand (+1.9%);
- a 0.8% increase in occupancy to 79.9%;
- a 7.7% increase in average daily rate to £132.88; and
- an 8.6% rise in revenue per available room to £106.17.

“London closed a positive first quarter by posting the highest RevPAR levels of any March since STR Global began tracking hotel performance for the market in 1993,” said Elizabeth Winkle, managing director of STR Global. “ADR continued to be the driving force behind this trend, off the back of a rather weak first quarter in 2013, where additional supply had an overall negative effect on rate.”