London hotel average daily rate (ADR) and revenue per available room (RevPAR) came in higher than the 2019 comparable for an eighth consecutive month, according to preliminary December 2022 data from STR.
- Occupancy: 76.8%
- Average daily rate (ADR): GBP206.87
- Revenue per available room (RevPAR): GBP158.89
London’s ADR and RevPAR levels were up 31.0% and 25.1%, respectively, from the pre-pandemic comparables. Like the rest of the year, occupancy remained below the 2019 comparable (-4.5%).
Daily data for December shows London’s highest occupancy levels were recorded on Saturday, 3 December (93.4%), and Wednesday, 7 December (93.7%). The market recorded daily occupancy levels of 60% or higher throughout the month with only three days falling below the 60% mark (22-24 December).
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.