LONDON – STR's preliminary April 2018 data for London, England, indicates lower occupancy levels and room rates.

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

  • Supply: +2.2%
  • Demand: +1.3%
  • Occupancy: -0.9% to 82.2%
  • Average daily rate (ADR): -1.1% to GBP141.87
  • Revenue per available room (RevPAR): -2.0% to GBP116.59

April was the 11th consecutive month with a year-over-year occupancy decline in London.STR analysts attribute that negative trend to continued significant supply growth and comparisons with high performance periods that followed Brexit.

ADR comparisons have fallen into negative territory only recently as April was the second month in a row with a decrease after 16 straight positive months in the metric.

STR will release full April results later this month. The May edition of STR's Market Forecast will be available at the end of the month.

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