London hoteliers reported occupancy rose 0.6% to 78%, ADR increased 1.1% to £133.52 ($175.92) and RevPAR rose 1.7% to £104.14 ($137.21) in February, according to preliminary monthly data from STR.
LONDON—STR’s preliminary February 2019 data for London indicates record-high rates.
Based on daily data from the month, London reported the following in year-over-year comparisons:
• Supply: +2.6%
• Demand: +3.2%
• Occupancy: +0.6% to 78.0%
• Average daily rate (ADR): +1.1% to GBP133.52
• Revenue per available room (RevPAR): +1.7% to GBP104.14
The absolute ADR and RevPAR levels are the highest for any February in STR’s London database, while the occupancy level is the highest for February since 2010. STR analysts note that the Six Nations rugby match (10 February) and London Fashion Week (14-19 February) helped boost performance levels.
STR will release full February results later this month.
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