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STR: Preliminary December data for London hotels

January 12, 2018 Hotel Trends No Comments Email Email

STR’s preliminary December 2018 data for London, England, indicates occupancy-driven performance declines. https://www.centarahotelsresorts.com/cosihotels/?utm_source=e-global&utm_medium=banner&utm_campaign=cosi-firstlaunch&fbtrack=CUST-cosi-firstlaunch-e-global-banner

Based on daily data from December, London reported the following in year-over-year comparisons:

  • Supply: +3.1%
  • Demand: +0.3%
  • Occupancy: -2.7% to 77.9%
  • Average daily rate (ADR): +0.4% to GBP148.85
  • Revenue per available room (RevPAR): -2.3% to GBP115.99

Although supply growth has affected London’s occupancy comparisons, December would be the U.K. capital’s 14th consecutive month of ADR growth. STR analysts noted that the “Brexit effect,” which drove a surge in international visitors in early 2017, seems to be wearing off as the value of pound sterling continues to climb.

STR will release full December and total-year 2017 results later this month. The January edition of STR’s market forecast will be available by the end of the month.

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