LONDON -- STR's preliminary March 2018 data for London, England, indicates overall performance declines.

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

  • Supply: +1.9%
  • Demand: +0.9%
  • Occupancy: -0.9% to 79.8%
  • Average daily rate (ADR): -1.2% to GBP138.55
  • Revenue per available room (RevPAR): -2.2% to GBP110.52

March broke a 16-month streak as the first with a year-over-year ADR decline in London since October 2016. In addition to continued and significant supply growth, which pulls down occupancy levels, STR analysts attribute the performance decreases to unseasonably-cold temperatures, snow and strong winds that came from the Siberian weather system labeled as the "Beast from the East."

STR will release full March results later this month. The January edition of STR's Market Forecast and the 2017 Global Hotel Study are now available.

About STR

STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. 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.

Alex Anstett
Media & Communications Coordinator - STR
STR