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London has reported a “significant” performance growth in March, according to the latest monthly data from benchmarking firm STR.
Preliminary data found occupancy was up 5.7% to 80.5%, average daily rate (ADR) was up 8% to £140.65 and revenue per available room (RevPAR) increased 14.2% to £113.27.
Hotel demand in the capital outstripped the supply of new properties, with demand up 8.7% compared with the 2.8% rise in supply.
STR analysts attribute the performance growth, in part, to a favorable calendar shift caused by a later Easter in 2017. However, it said the opposite will occur in April.
Additionally, airport hotels have seen an uptick in demand, indicating an increase in inbound tourism as a result of the pound devaluation.
As reported by STR last week, there was no performance disruption for London’s hotel industry following the Westminster attack on 22 March.
