Economy

Hotel supply continues to outstrip demand in London

London hoteliers recorded a relatively flat performance in April when compared with the same month last year, according to the latest preliminary data from STR Global.

Hotel supply continued to outstrip demand as they increased by 2.3% and 1.7% respectively, resulting in a 0.7% decrease in occupancy to 80%.

Meanwhile, London hotels recorded a 0.9% increase in average daily rate (ADR) to £136.22 and a 0.2% increase in revenue per available room (RevPAR) to £109.04.

Although London experienced an increase in demand due to the Easter calendar shift from April 2015 to March 2016, STR analysts said that it wasn’t enough to compensate for the market’s continuing supply growth, which resulted in the slight year-on-year occupancy fall.

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