STR: Preliminary November data for London hotels
LONDON — 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.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
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