STR Global’s preliminary August data for London indicate positive hotel performance: based on daily data from August, London reported:
- increases in supply (+3.3 percent) and demand (+4.3 percent);
- a 1.1-percent increase in occupancy to 87.2 percent;
- a 2.1-percent increase in average daily rate to GBP134.92;
- 3.3-percent growth in revenue per available room to GBP117.61.
“Despite the market seeing the largest supply increase so far this year, hotels still saw strong demand, resulting in positive occupancy growth,” said Elizabeth Winkle, managing director of STR Global. “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 August 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, STR Analytics and Hotel News Now.
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