STR: Preliminary March data for London hotels
Reflecting the circumstances around the COVID-19 pandemic, STR's preliminary March data for hotels in London shows significant year-over-year declines in the three key performance metrics.
Comparison with March 2019:
- Occupancy: -57.8% to 34.5%
- Average daily rate (ADR): -10.4% to GBP124.15
- Revenue per available room (RevPAR): -62.1% to GBP42.88
Daily data for the month shows 31 consecutive days of double-digit declines in occupancy and RevPAR.
STR continues to monitor the COVID-19 impact on global hotel industry performance. More information and analysis can be found here.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.