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Promising Results of London Hotels in January
Preliminary January 2015 data by STR Global for London shows positive results and definite growth of all main metrics. Hotels in the UK capital again managed to improve their already high results and boost revenues.
Even though the supply of hotels in London added 3.4% in January, the growth of demand was bigger and estimated 5.3%. Second most important metric, occupancy, was also growing throughout the month and reached 69.4% in total (+1.8%). Average daily rate was increased by 2.5% in January and reached GBP124.33. Naturally, revenue per available room (RevPAR) was also growing in January. The growth estimated 4.3% to GBP86.25.
Without a doubt, hotels in London made a powerful start in January, continuing the trend of previous months. January 2015 became the 17th consecutive month of growing RevPAR. In this metric, London hotels managed to reach and overcome results of 1993 – the year when STR Global started collecting data about British capital accommodation. As the growing trend is persistent, we can expect hotels in London reach new heights in 2015.
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