The United Kingdom has had an incredible start to 2015, achieving the strongest performance for the month of January in six years.
It boasted the highest actuals in all three key performance measurements in local currency terms, according to data released by STR Global.
U.K. RevPAR increased by 9.4% to GBP48.74, driven slightly more by average daily rate (+4.9%), whilst occupancy also grew by a respectable 4.3% to 62.9%.
This was also the case for London, where ADR (3.0%) drove RevPAR to increase (5.1%) to GBP85.98. The European hotel industry posted mixed results in year-over-year metrics for January.
“Northern Europe carried on its performance as it finished last year as the sub region driving the most growth, predominantly from rate, as January ADR growth was in double digits at 12.3% in Euros”, said Elizabeth Winkle, managing director of STR Global.
“Eastern Europe has sustained weaker hotel performance into 2015, with declines of 7.6% in RevPAR. Despite the 5.0-percent occupancy growth, overall performance dropped due to rates.
“From an occupancy perspective, Southern Europe has had continued growth (5.3%), driven by recovery from countries such as Greece, Malta, Portugal and Spain”, Winkle continued.
“Western Europe reported a positive performance, achieving RevPAR growth of 4.0%. The sub region has had the highest RevPAR in Europe at EUR63.45.”