LONDON -- 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%
  • Average daily rate (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.

About STR

STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. 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.

Alex Anstett
Media & Communications Coordinator - STR
STR