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STR Global releases preliminary March 2014 data for London

April 12, 2014 Statistics & Trends No Comments Email Email

According to STR Global’s preliminary daily data from March, London showed positive growth in the following key performance indicators:

* increases in supply (+1.1 percent) and demand (+1.9 percent);
* a 0.8-percent increase in occupancy to 79.9 percent;
* a 7.7-percent increase in average daily rate to GBP132.88; and
* an 8.6-percent rise in revenue per available room to GBP106.17.

“London closed a positive first quarter by posting the highest RevPAR levels of any March since STR Global began tracking hotel performance for the market in 1993”, said Elizabeth Winkle, managing director of STR Global. “ADR continued to be the driving force behind this trend, off the back of a rather weak first quarter in 2013, where additional supply had an overall negative effect on rate”.

STR Global will release March 2014 results in two weeks. The February edition of the STR Global Hotel Market Forecast is available now.

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