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The London hotel market saw another strong month in January as revenue per available room (RevPAR) grew for the 17th consecutive month, according to STR Global.
Preliminary results from STR Global’s latest research report a 3.4% increase in supply and a 5.3% increase in demand for hotels in London.
The data showed a 1.8% increase in occupancy to 69.4%, a 2.5% increase in average daily rate to £124.33 and a 4.3% increase in RevPAR to £86.25.
Elizabeth Winkle, managing director of STR Global, said: “London had a great start to the new year, continuing to grow RevPAR for the 17th consecutive month, achieving the highest levels in this measure since 1993, when STR Global started collecting performance data for the British capital.
“Rate growth remained strong for January, driving overall hotel performance, while occupancy grew by 1.8%, as demand outpaced supply growth for the third month in a row.”
Image courtesy of VisitEngland/Diana Jarvis
