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The London hotel market saw a strong month in November as supply and demand in the capital increased, according to STR Global.
Preliminary results from STR Global’s latest research report a 3.1% increase in supply and a 4.4% increase in demand for hotels in London.
The data also showed a 1.3% increase in occupancy to 84.4%, a 2% increase in average daily rate to £147.41 and a 3.3% increase in revenue per available room (RevPAR) to 125.08.
STR has predicted a 3% increase in RevPAR in 2015 for hotels in the capital.
Elizabeth Winkle, managing director of STR Global, said: “Demand growth picked up in November, showing the fastest increase in this measure of any month in 2014 so far.
“Our RevPAR forecast for 2015 remains positive in anticipation of the Rugby World Cup towards the end of the year and due to the confidence in a growing UK as well as European economy in the coming years.”
Image courtesy of VisitEngland/Diana Jarvis
