In January, London hotels reported occupancy rose 2.4% to 71.7%, according to preliminary monthly data from STR. ADR increased 3.2% to £131.92 ($170.19) and RevPAR rose 5.7% to £94.60 ($122.04).
LONDON—STR’s preliminary January 2019 data for London indicates record performance levels.
Based on daily data from the month, London reported the following in year-over-year comparisons:
- Supply: +2.3%
- Demand: +4.8%
- Occupancy: +2.4% to 71.7%
- Average daily rate (ADR): +3.2% to GBP131.92
- Revenue per available room (RevPAR): +5.7% to GBP94.60
The absolute occupancy, ADR and RevPAR levels are the highest for any January in STR’s London database. STR analysts note that daily data shows performance was fueled by the first two days of the year and strong weekday levels.
STR will release full January results later this month.
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