London hoteliers report a 1.2% increase in occupancy for September
STR Global’s preliminary September data for London indicate positive hotel performance.
Based on daily data from September, London reported:
- increases in supply (+3.3 percent) and demand (+4.6 percent);
- a 1.2-percent increase in occupancy to 89.4 percent;
- a 0.9-percent increase in average daily rate to GBP154.24; and
- a 2.1-percent increase in revenue per available room to GBP137.87.
“London reported growth in RevPAR performance for the month of September, traditionally a strong business month for the capital”, said Elizabeth Winkle, managing director of STR Global. “London grew year on year across all the key metrics, demand outpacing supply, and helping to achieve nearly 90 percent occupancy for the month.
“September results were spot-on to what we forecasted for the month, and we are confident that London will finish the year with an overall 4.0-percent RevPAR growth as we, in conjunction with Tourism Economics, forecasted for 2014”, Winkle said.
STR Global will release September 2014 results in two weeks. The August edition of the STR Global Hotel Market Forecast is available now.
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.