Search
The Caterer

Demand for London hotels stays ahead of supply

11 April 2014 by
Demand for London hotels stays ahead of supply

The demand for hotel rooms in London is staying ahead of supply, according to the preliminary performance results for March from STR Global.

Demand increased by 1.9%, just ahead of the 1.1% growth in the supply of hotel accommodation last month.

Revenue per available room (revpar) and average daily rate (ADR) grew by 8.6% to £106.17 and 7.7% to £132.88 respectively year-on-year, while occupancy increased 0.8% to 79.9%.

Elizabeth Winkle, managing director of STR Global, said: "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.

"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".

STR Global will release its full March 2014 results in two weeks.

London leads Europe in scale of hotel development >>

London's revpar increases six months in a row >>

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.