London Hotels Report 2.8 Percent Occupancy Decline for November 2017
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.
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