STR’s preliminary December 2016 data for London, England, indicates significant demand growth and high occupancy levels.
Based on daily data from December, London reported the following in year-over-year comparisons:
Supply: +2.7%
Demand: +10.0%
Occupancy: +7.1% to 80.1%
Average daily rate (ADR): +7.0% to GBP149.02
Revenue per available room (RevPAR): +14.5% to GBP119.41
December marked London’s highest year-over-year RevPAR increase in the past 52 months (since the London Olympics in 2012).
While this performance growth is compared with a weak December 2015, when London hotels experienced a downturn in performance following the terror attacks in Paris, December 2016 marked London’s highest actual occupancy level for any December on record.
