STR Global’s preliminary November 2015 data for London, England, indicates decreases in several key performance metrics.
Based on daily data from November, London reported:
- an increase in supply (+1.7%) and a decrease in demand (-1.9%);
- a 3.5% decrease in occupancy to 81.6%;
- a 2.2% increase in average daily rate to GBP149.98; and
- a 1.4% decrease in revenue per available room to GBP122.38.
Although ADR performance for the month was solid, an imbalance in supply growth and demand performance, and the subsequent decline in occupancy, led to London’s overall decrease in RevPAR.
STR Global analysts note that occupancy in London decreased year over year for 14 of the 17 days following the 13 November terrorist attacks in Paris, France.
STR Global will release November 2015 results later this month. The November edition of the STR Global Hotel Market Forecast is now available.
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