The capital has seen an increase in hotel room supply, but a drop in demand and in revenue per available room (RevPAR). STR Global analysts, who have produced the new research figures, note that occupancy in London decreased year over year for 14 of the 17 days following the 13 November terrorist attacks in Paris.
The headline statistics come out of STR Global’s preliminary November 2015 data for London, which indicate 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 £149.98
• a 1.4% decrease in revenue per available room to £122.38.
Although ADR (average daily room rate) 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 (revenue per available room).