According to STR Global preliminary daily data from December, London showed positive growth in the following key performance indicators:
• increases in supply (+1.3 percent) and demand (+4.4 percent);
• +3.0-percent increase in occupancy to 76.3 percent;
• +6.4-percent increase in average daily rate to GBP134.95;
• +9.6-percent rise in revenue per available room to GBP102.92.
“This month saw the highest RevPAR levels of any December since 1994, and is contributing to an overall positive hotel performance in 2013,” said Elizabeth Winkle, managing director of STR Global. “Although occupancy achieved record levels for the last three years during this month, ADR was the driving force behind the strong RevPAR performance in December.”
STR Global will release December 2013 results in two weeks. The next edition of the STR Global Hotel Market Forecast will be available by the end of February.
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