Published on : Saturday, March 15, 2014
London emerged as one of the most promising destinations in 2013.
The hotel industry is booming in the first couple of months of 2014 as well.
According to STR Global’s preliminary daily data from February, London showed positive growth in the following key performance indicators:
* increases in supply (+1.2 percent) and demand (+2.9 percent);
* a 1.6-percent increase in occupancy to 76.8 percent;
* a 4.9-percent increase in average daily rate to GBP128.12;
* a 6.6-percent rise in revenue per available room to GBP98.34; and
* a 4.2 percent increase in RevPAR is expected in 2014.
“London continued to grow RevPAR in February for the sixth month in a row, mainly driven by an increase in ADR,” said Elizabeth Winkle, managing director of STR Global.
“The fast growing U.K. economy as well as the continuing recovery of the Eurozone suggests a positive outlook in terms of hotel performance for the British capital in 2014.”
STR Global will release February 2014 results in two weeks. The February edition of the STR Global Hotel Market Forecast is available with immediate effect.
Source: STR Global.
Tags: Hotel News