The London hotel market reported a flat performance in March, according to preliminary data from STR Global.
During the month, hotels in London experienced a 3.7% increase in supply and a 2% increase in demand. Occupancy decreased by 1.7% to 78.6%.
Hotels in the capital also experienced a 1.1% increase in average daily rate to £133.77, but revenue per available room (RevPAR) decreased 0.6% to £105.16.
Elizabeth Winkle, managing director of STR Global, said: “Whilst London reported a 0.6% year-over-year decrease in RevPAR, absolute figures remained high at £105 for March. An increase in supply outpaced room demand growth in the city.
“The new rooms in the capital put pressure on occupancy resulting in year-on-year decline; however, levels remain above 75%. ADR, on the other hand, fared well this month with growth of 1.1%.”