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.
About STR Global:
STR Global provides clients —including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR Global is part of the STR family of companies and is proudly associated with STR, STR Analytics and Hotel News Now. For more information, please visit www.strglobal.com.
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