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Average January room rate in London up for 15th consecutive month

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Average January room rate in London up for 15th consecutive month

Average room rate (ARR) across London hotels increased for the 15th consecutive month in January, up 1.3% to £129.23, according to preliminary results from data company STR.

However, a 3% increase in supply was balanced by a 2% rise in demand, ensuring that the occupancy rate remained virtually flat, up just 0.9% year on year to 69.8%.

Meanwhile, revenue per available room increase by a marginal 0.3% to £90.21.

STR will release its full January results later this month.

Average daily rate continues to grow in London hotels as occupancy falls >>

London hotel occupancy falls again in November >>

October hotel occupancy in London lowest for 11 years >>

 

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