According to STR and ASAP, the serviced apartment sector in the UK recorded a 5.5% increase in RevPAR during the first half of 2017, mainly driven by growth in London.
Compared with the first half of 2016, serviced apartments in the UK posted 1.7% growth in occupancy to an actual level of 79.2%.
Meanwhile, average daily rate (ADR) increased 3.8% to GBP139.08. Rate growth for the country was fueled by a 10.3% ADR increase in London (to GBP185.58), while the capital’s occupancy rose 4.8% to 81.5%.
Regional UK reported a 1.4% decline in occupancy to 76.9%, although ADR increased 1.1% to GBP90.27.