STR: Preliminary February Data For London Hotels
STR's preliminary February 2019 data for London indicates record-high rates. Based on daily data from the month, London reported the following in year-over-year comparisons:
LONDON — STR's preliminary February 2019 data for London indicates record-high rates.
Based on daily data from the month, London reported the following in year-over-year comparisons:
- Supply: +2.6%
- Demand: +3.2%
- Occupancy: +0.6% to 78.0%
- Average daily rate (ADR): +1.1% to GBP133.52
- Revenue per available room (RevPAR): +1.7% to GBP104.14
The absolute ADR and RevPAR levels are the highest for any February in STR's London database, while the occupancy level is the highest for February since 2010. STR analysts note that the Six Nations rugby match (10 February) and London Fashion Week (14-19 February) helped boost performance levels.
STR will release full February results later this month.
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CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.
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