Record performance for London hotels in January

Record performance for London hotels in January

An article released this week from The Caterer is showing growth in the hospitality sector. This is fantastic news for London and the UK especially in these uncertain times. Here, at Harris Evolution, we have several hotel and leisure refurbishment projects coming up and noticed an increase in tenders for the Capital and surrounding areas.

London hotels posted a record performance across all metrics for any January since records began, according to new figures from data company STR.

A strong first two days of the year and weekday levels resulted in an increase of 3.2% in average daily rate to £131.92, while revenue per available room was up by 5.7% to £94.60. Meanwhile, occupancy increased by 2.4% to 71.7%.

A 4.8% increase in demand outstripped the 2.3% rise in supply of new hotel rooms.

STR’s full January results will be published at the end of the month.

Read the full article here >