LONDON—STR Global’s preliminary May data for London indicate declines in the three key performance metrics.
Based on daily data from May, London reported:
- increases in supply (+1.7 percent) while demand stayed flat (0.0 percent);
- a 1.7-percent decline in occupancy to 84.5 percent;
- a 0.3-percent decline in average daily rate to GBP142.85; and
- a 2.0-percent decrease in revenue per available room to GBP120.76.
RevPAR in London is expected to increase 5.0 percent during 2014.
“May was the first month in 2014 to report negative hotel performance for London, primarily impacted by the 2013 UEFA Champions League Final, which pushed hotel performance to new levels for the month last year”, said Elizabeth Winkle, managing director of STR Global. “The rest of the year, however, looks positive all through, as the U.K. economy and the eurozone are expected to grow further”.
STR Global will release May 2014 results in two weeks. The May edition of the STR Global Hotel Market Forecast is now available.
Media contacts:
Naureen Ahmed
Manager, Marketing & Analysis
NAhmed@strglobal.com
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Jeff Higley
VP, Digital Media & Communications
jeff@str.com
+1 (615) 824-8664 ext. 3318
Rachael Spann Urie
Director, Public Relations
rurie@str.com
+1 (615) 824 8664 ext. 3305