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The London hotel market experienced its best performance in two decades as supply and demand increased in December 2014, according to STR Global.
According to preliminary results from STR Global’s latest research, London hotels saw a 3% increase in supply and a 5.9% increase in demand during December last year.
The data also showed a 2.8% increase in occupancy to 78.4%, a 5.3% increase in average daily rate to £141.56, and an 8.3% increase in revenue per available room (RevPAR) to £111.03.
Elizabeth Winkle, managing director of STR Global, said: “London closed the year with another record month, achieving the highest RevPAR levels of any December for the last two decades.
“The British capital is looking back at five consecutive years of RevPAR growth and is expected to continue this trend in 2015.”
Image courtesty of VisitEngland/Diana Jarvis
