Early Ramadan boosts London hotel results for August
The timing of this year's Ramadan in July helped to boost the performance of London hotels during August, according to preliminary data from STR Global.
Demand for business increased by 4.3%, despite a 3.3% rise in supply of hotel rooms. Occupancy grew 1.1% to 87.2%, alongside an increase of 2.1% to £134.92 and 3.3% to £117.61 in average daily rate and revenue per available room respectively.
Elizabeth Winkle, managing director of STR Global, said: "Despite the market seeing the largest supply increase so far this year, hotels still saw strong demand, resulting in positive occupancy growth.
"Two years after hosting the Summer Olympics, it's good to see strong results still coming out of the market. The strong performance in August also can be attributed to the calendar shift of Ramadan from August to July".
STR Global will release the full set of results for August 2014 in two weeks.
