London Hotel Room Rates Report ‘Healthy’ Growth
UK hoteliers have seen an encouraging start to the year, as a result of a healthy, steady rise in hotel demand from international travellers.
STR, hotel data benchmarking company, conducted a study which saw an increase in Average Daily Rate (ADR) of 1.4% to £143.01.
April also revealed that supply had increased by 2.3% with demand also growing by 0.7%. However, occupancy rates decreased by 1.6% to 81.1% during the same period. Revenue per available room (RevPAR) also slipped slightly by 0.1% to £115.99.
A statement from STR read: “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.”
Q1 data also revealed to Expedia Group that the demand for trips made by international travellers increased when compared with the same period last year. Other major metropolitan cities and several regions across the country also boosted by double-digit year-on-year growth.
Notably, a number of major cities outside of London experienced growth:
- Manchester, over +10% year on year
- Edinburgh, over +15% year on year
- Glasgow, over +10% year on year
- Leeds, over +10% year on year
- Cardiff, over +10% year on year