STR: Preliminary December data for London hotels
LONDON -- STR's preliminary December 2018 data for London, England, indicates occupancy-driven performance declines.
Based on daily data from December, London reported the following in year-over-year comparisons:
- Supply: +3.1%
- Demand: +0.3%
- Occupancy: -2.7% to 77.9%
- Average daily rate (ADR): +0.4% to GBP148.85
- Revenue per available room (RevPAR): -2.3% to GBP115.99
Although supply growth has affected London's occupancy comparisons, December would be the U.K. capital's 14th consecutive month of ADR growth. STR analysts noted that the "Brexit effect," which drove a surge in international visitors in early 2017, seems to be wearing off as the value of pound sterling continues to climb.
STR will release full December and total-year 2017 results later this month. The January edition of STR's market forecast will be available by the end of the month.
Media & Communications Coordinator - STR
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.