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Hotels in London reported a year-on-year fall in occupancy and revenue per available room (RevPAR), according to preliminary data from STR Global.
During the month an increase in supply (2.9%) outstripped a rise in demand (0.8%), resulting in a decrease in occupancy of 2% to 75.6% when compared with the same month last year.
Average daily rate (ADR) fell by 0.4% to £127.35, while RevPAR decreased 2.4% to £96.33.
Despite this, STR analysts said that hotel performance in London is “traditionally quiet” at the beginning of the year, citing the recorded occupancy fall of 4.4% and RevPAR drop of 5.9% in January this year.
STR added the 2.4% decline in RevPAR during February was mainly due to the drop in occupancy as demand growth remained soft compared with supply growth.
