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London hotels see occupancy decline in November
A growth in room supply is believed to have contributed to the drop
Hotels in London have suffered a year-on-year decline in occupancy, with analysts attributing the drop to a growth in supply.
STR’s preliminary data for the month of November showed that compared to last year, occupancy levels fell by 2.8% to 83.7%.
The average daily rate (ADR) saw growth of 1% to £158.96, while supply was up by 3.3%. This makes it the 13th consecutive month when London has seen an increase in ADR.
Demand saw an uptick of 0.3% and revenue per available room (RevPAR) dropped by 1.8% to £128.87.
The highest occupancy of 95.5% and ADR (£177.25) night of the month came on 7 November during the World Travel Market London event.
