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Optimistic April 2017 Results for Hotels in London
The second month of spring was also profitable for London hotels. They managed to increase their occupancy, average daily rate, and enjoy the growth of RevPAR of 10.3% to £119.40. The fresh information has been published by STR.
The data for April 2017 shows that hotels in the capital of the UK managed to reach record-breaking results. The year-on-year performance for the month is the following. The supply added 2.8%, but it was totally overcome by the growing demand of 6.6%. This helped the hotels to increase their occupancy by 3.7% to 83.0% in total. The average daily rate was growing as well, increasing by 6.4% to £143.92. With occupancy and ADR growing, the revenue per available room (RevPAR) was skyrocketing as well, reaching the growth of 10.3% to £119.40.
The April revenue result is a serious milestone for London hotels as that is the highest RevPAR for the month on record. According to STR experts, such an outstanding performance has become possible thanks to two events that helped to boost the market. These are In-Cosmetics Global that took place on April 4-6 and the Natural Stone Show & Conference on April 25-27. On particular days of the month, the occupancy reached 95%, and ADR was higher than £160.
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