London hotel sector reports strong gains in March

London hotel sector reports strong gains in March

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.

Aaron Greenwood
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Aaron Greenwood
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