STR’s preliminary November 2019 data for hotels in London indicates slightly lower occupancy but higher rates.
Based on daily data from the month, London reported the following in year-over-year comparisons:
• Supply: +2.1%
• Demand: +1.8%
• Occupancy: -0.4% to 85.8%
• Average daily rate (ADR): +1.6% to GBP158.94
• Revenue per available room (RevPAR): +1.3% to GBP136.43
The absolute ADR and RevPAR levels are the highest for any November in STR’s London database. STR analysts note that the CBI Annual Conference (18 November) helped performance, with RevPAR increasing 20.2% on the day of the event.
STR will release full November results later this month.
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