STR’s preliminary April 2019 data for London indicates high room rates.
Based on daily data from the month, London reported the following in year-over-year comparisons:
Supply: +2.3%
Demand: +0.7%
Occupancy: -1.6% to 81.1%
Average daily rate (ADR): +1.4% to GBP143.01
Revenue per available room (RevPAR): -0.1% to GBP115.99
The absolute ADR level is the highest for any April in STR’s London database. STR analysts attribute the decrease in occupancy to supply growth, and to a lesser extent, the Easter calendar shift from early April last year.
STR will release full April results later this month.
