Year-over-year, supply increased by 2.5% during the month, with demand also rising by 4.6%. Occupancy also increased by 2.1% to 81.6% during the period, and the average daily rate (ADR) grew by 1.7% to £138.13. Additionally, revenue per available room (RevPAR) increased by 3.8% to £112.68.
A statement by the group read: “The absolute RevPAR level is the highest for any March in STR’s London Database. STR analysts attribute the performance to several events in the market – a pair of Six Nations rugby matches (9 March and 16 March) and the Passenger Terminal EXPO (26-28 March).”