Find the right hotel
Important! This article is written by orangesmile.com editors and is protected by copyright law. The article can only be re-used with a direct link to www.orangesmile.com
Hotels in London Post Flat Results in March
March 2015 was definitely not the most successful month for hotels in the capital of the UK. As it is stated in the data provided by STR Global, London hotels had mostly flat performance in all key indicators.
Even though the demand added 2% in March 2015, the growth of supply was faster and estimated +3.7% for the month. Occupancy lost 1.7% and remained at the level of 78.6%. Hoteliers tried to maintain their profits by increasing average daily rate by 1.1% to GBP133.77, but revenue per available room ended up losing 0.6% to GBP105.16.
The main indicators are not very positive, and London reported the drop of RevPAR by 0.6%. However, the absolute figure of GBP105.16 is still a good result. Continuous increase of hotel supply pushes occupancy figures down, which result in year-over-year decline of the metric. Yet, the occupancy above 75% cannot be called weak, and despite all factors hoteliers manage to increase room rates. That means the potential of London hotel market remains high.
Previous article / Back to news index
Stay in touch with the latest news of a worldwide hotel industry. All up-to-date analytics, reports, and news about hotel business trends on OrangeSmile.com.
