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Hospitality data benchmarking firm STR’s preliminary December 2019 data for hotels in London has indicated lower occupancy but higher room rates during the month.
Based on daily data, occupancy decreased by 1% to 81.2% during the period. However, supply and demand increased by 2.1% and 1.1% respectively, and the Average daily rate (ADR) was up by 2.6% to £159.48.
Revenue per available room (RevPAR) was also up by 1.5% to £129.44.
STR said: “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.”
It follows similar results seen during the previous month, which saw a 0.4% decline in occupancy to 85.8%. However, supply and demand both increased 2.1% and 1.8% respectively in November 2019.
