STR: Preliminary March data for London hotels
 
STR: Preliminary March data for London hotels
09 APRIL 2018 7:53 AM

Preliminary March data from STR shows hotels in London saw a 0.9% occupancy decrease to 79.8% during the month. ADR in the market dropped 1.2% to £138.55 ($195.85) and RevPAR fell 2.2% to £110.52 ($156.23).

LONDON—STR’s preliminary March 2018 data for London, England, indicates overall performance declines.

Based on daily data from March, London reported the following in year-over-year comparisons:

• Supply: +1.9%
• Demand: +0.9%
• Occupancy: -0.9% to 79.8%
• Average daily rate (ADR): -1.2% to GBP138.55
• Revenue per available room (RevPAR): -2.2% to GBP110.52

March broke a 16-month streak as the first with a year-over-year ADR decline in London since October 2016. In addition to continued and significant supply growth, which pulls down occupancy levels, STR analysts attribute the performance decreases to unseasonably-cold temperatures, snow and strong winds that came from the Siberian weather system labeled as the “Beast from the East.”

STR will release full March results later this month. The January edition of STR’s Market Forecast and the 2017 Global Hotel Study are now available. 

Media Contacts:

Alex Anstett
Marketing & Communications
aanstett@str.com
+44 (0)207 922 1979

Naureen Ahmed
Director of Marketing, Research & Analysis
media@str.com
+44 (0)207 922 1965

The above is a news release written by a third party. While HNN’s editorial mission is to produce unique content, it occasionally publishes timely, newsworthy news releases to complement in-house reporting efforts. All news releases are clearly marked as such. For questions and clarification, please contact Editor-in-Chief Stephanie Ricca at sricca@hotelnewsnow.com.

1 Comment

  • Marv April 20, 2018 11:31 PM Reply

    If not for your writing this topic could be very coetulovnd and oblique.

Comments that include blatant advertisements or links to products or company websites will be removed to avoid instances of spam. Also, comments that include profanity, lewdness, personal attacks, solicitations or advertising, or other similarly inappropriate or offensive comments or material will be removed from the site. You are fully responsible for the content you post. The opinions expressed in comments do not necessarily reflect the opinions of Hotel News Now or its parent company, STR and its affiliated companies. Please report any violations to our editorial staff.