STR: Preliminary London hotel data for February
LONDON—STR’s preliminary February 2021 data for London hotels shows slightly better performance compared with the previous month, albeit at low levels influenced by continued restrictions in the U.K.
In addition to low absolute levels, year-over-year declines remained significant.
- Occupancy: 23.3% (-69.5%)
- Average daily rate (ADR): GPB57.52 (-56.9%)
- Revenue per available room (RevPAR): GPB13.40 (-86.9%)
The absolute occupancy and RevPAR levels were up slightly from January 2021, but the ADR level would be the lowest for any month on record in the market. Year-over-year percentage changes will soon turn positive due to comparison with the earliest pandemic-affected months from last year. STR forecasts more significant improvement in absolute levels during the second half of the year.
All of STR’s COVID-19 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.
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