Hotels in London reported increases across the three performance metrics during December 2016, according to preliminary data from STR. Occupancy rose 7.1% to 80.1%, ADR climbed 7% to £149.02 ($180.61) and RevPAR increased 14.5% to £119.41 ($144.73).
LONDON—STR’s preliminary December 2016 data for London, England, indicates significant demand growth and high occupancy levels.
Based on daily data from December, London reported the following in year-over-year comparisons:
- Supply: +2.7%
- Demand: +10.0%
- Occupancy: +7.1% to 80.1%
- Average daily rate (ADR): +7.0% to GBP149.02
- Revenue per available room (RevPAR): +14.5% to GBP119.41
December 2016 marked London’s highest year-over-year RevPAR increase in the past 52 months (since the London Olympics in 2012). While this performance growth is compared with a weak December 2015, when London hotels experienced a downturn in performance following the terror attacks in Paris, December 2016 marked London’s highest actual occupancy level for any December on record.
STR will release actual December 2016 results later this month. The November edition of STR’s Market Forecast is now available.
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