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.

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