London’s hotel sector reported strong growth in March, with occupancy up 5.7% and the average daily rate (ADR) up 8%.
Based on daily data supplied by STR, London reported the following in year-over-year comparisons:
Supply: +2.8%
Demand: +8.7%
Occupancy: +5.7% to 80.5%
Average daily rate (ADR): +8.0% to GBP140.65
Revenue per available room (RevPAR): +14.2% to GBP113.27
STR analysts attribute the performance growth, in part, to a favourable calendar shift caused by a later Easter in 2017. 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.
