STR Global’s preliminary November data for London indicate positive hotel performance.
Based on daily data from November, London reported:
- increases in supply (3.1 percent) and demand (4.4 percent);
- a 1.3-percent increase in occupancy to 84.4 percent;
- a 2.0-percent increase in average daily rate to GBP147.41; and
- a 3.3-percent increase in revenue per available room to GBP125.08.
“Demand growth picked up in November, showing the fastest increase in this measure of any month in 2014 so far”, said Elizabeth Winkle, managing director of STR Global. “Our RevPAR forecast for 2015 remains positive in anticipation of the Rugby World Cup towards the end of the year and due to the confidence in a growing U.K. as well as European economy in the coming years”.
STR Global will release November 2014 results in two weeks. The November edition of the STR Global Hotel Market Forecast is now available.
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.
Logos, product and company names mentioned are the property of their respective owners.