London hotels achieve record revpar figures for March

Preliminary March data shows demand outpaced supply among hotels in London, leading to a 2.1% occupancy increase.

Based on daily data from the month, London reported the following in year-over-year comparisons:

• Supply: +2.5%
• Demand: +4.6%
• Occupancy: +2.1% to 81.6%
• Average daily rate (ADR): +1.7% to GBP138.13
• Revenue per available room (RevPAR): +3.8% to GBP112.68

The absolute RevPAR level is the highest for any March in STR’s London Database. STR analysts attribute the performance to several events in the market—a pair of Six Nations rugby matches (9 March and 16 March) and the Passenger Terminal EXPO (26-28 March).

Keeping checking back for the full March results that will be released by STR later this month.