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London hotels see strong demand and revpar rise for January

12 February 2015 by
London hotels see strong demand and revpar rise for January

London hotel performance got off to a strong start to the year with demand for rooms in January 2015 up by 5.3% and revpar (revenue per available room) increasing for the 17th consecutive month, according to STR Global.

New data shows a 3.4% increase in supply, while occupancy rose by 1.8% to 69.4%, average daily rate climbed to £124.33 (up 2.5%) and revpar rose by 4.3% to £86.25.

The results come weeks after STR Global reported that hotel performance in the UK capital for 2014 had achieved the highest revpar for a December in 20 years (an 8.3% increase to £111.03).

Elizabeth Winkle, managing director of STR Global, said that demand had "outpaced supply growth" for the third month in a row.

"London had a great start to the new year, continuing to grow revpar for the 17th consecutive month, achieving the highest levels in this measure since 1993, when STR Global starting collecting performance data [for London]."

The full results for January will be released in two weeks' time.

London hotels end 2014 with record-breaking revpar figure >>

STR Global - Weekly and monthly UK hotel figures >>

Strong corporate business drives hotel performance in October >>

TagsTrends and Hotels
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