London's hotel occupancy rose 5% to 81.9% in December, preliminary monthly data from STR shows. ADR increased 6.2% to £156.47 ($201.06) and RevPAR jumped 11.4% to £128.09 ($164.60).
STR’s preliminary December 2018 data for London, England, indicates higher performance levels.
Based on daily data from the month, London reported the following in year-over-year comparisons:
- Supply: +2.3%
- Demand: +7.3%
- Occupancy: +5.0% to 81.9%
- Average daily rate (ADR): +6.2% to GBP156.47
- Revenue per available room (RevPAR): +11.4% to GBP128.09
STR analysts attribute the performance to the holiday season. Daily data shows that New Year’s Eve was the strongest day of the month with RevPAR at GPB219.39 (+17.8%).
STR will release full December results later this month.
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.