London hotel occupancy decreased 1% to 81.2% in December, according to preliminary monthly data from STR. ADR rose 2.6% to £159.48 ($208.27) and RevPAR increased 1.5% to £129.44 ($169.04).
LONDON —STR’s preliminary December 2019 data for hotels in London indicates lower occupancy but higher rates.
Based on daily data from the month, London reported the following in year-over-year comparisons:
• Supply: +2.1%
• Demand: +1.1%
• Occupancy: -1.0% to 81.2%
• Average daily rate (ADR): +2.6% to GBP159.48
• Revenue per available room (RevPAR): +1.5% to GBP129.44
The absolute ADR and RevPAR levels are the highest for any December in STR’s London database. STR analysts note that although there was a slight decline in occupancy, London saw nine nights 90% and higher in the metric, likely due to Christmas festivities.
STR will release full December total-year results later this month.
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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