London Hotels Report 2.8 Percent Occupancy Decline for November 2017
Preliminary November data from STR shows the London hotel market experienced a 2.8% occupancy decrease to 83.7% during the month, while ADR rose 1% to £153.96 ($205.64) and RevPAR fell 1.8% to £128.87 ($172.13).
STR’s preliminary November 2017 data for hotels in London, England, indicates a year-over-year decline in occupancy levels, but growth in average daily rate (ADR).
Based on daily data from November, London reported the following in year-over-year comparisons:
- Supply: +3.3%
- Demand: +0.3%
- Occupancy: -2.8% to 83.7%
- ADR: +1.0% to GBP153.96
- Revenue per available room (RevPAR): -1.8% to GBP128.87
STR analysts attribute the decline in occupancy to year-over-year supply growth outweighing a slight rise in demand. At the same time, November is the 13th month in a row with ADR growth in London.
The highest occupancy (95.5%) and ADR (GBP177.25) night of the month came on 7 November during World Travel Market London.
STR will release full November 2017 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.