London Hotels Report Flat Performance for December 2017
Preliminary January data from STR shows London hotels reported occupancy decreased 0.9% to 69.8%, ADR rose 1.3% to £129.23 ($178.44) and RevPAR increased 0.3% to £90.21 ($124.56).
STR’s preliminary January 2018 data for London, England, indicates nearly flat overall performance.
Based on daily data from January, London reported the following in year-over-year comparisons:
- Supply: +3.0%
- Demand: +2.0%
- Occupancy: -0.9% to 69.8%
- Average daily rate (ADR): +1.3% to GBP129.23
- Revenue per available room (RevPAR): +0.3% to GBP90.21
STR analysts note that January was much like previous months in London. Even with a lift in demand (room nights sold) during a historically slow month, occupancy comparisons were lower due to strong supply (room nights available) growth. However, ADR increased year over year for the 15th consecutive month.
STR will release full January results later this month. The January edition of STR’s market forecast is now available.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
Categories: Market Reports