STR Global’s preliminary January 2016 data for London, England, indicates negative performance when compared with the same month last year.
Based on daily data from January, London reported:
- an increase in supply (+2.8%) and a decrease in demand (-1.1%);
- a 3.8% decrease in occupancy to 66.6%;
- a 1.7% decrease in average daily rate to GBP121.68; and
- a 5.4% decrease in revenue per available room to GBP81.04.
The 66.6% absolute occupancy level would be the lowest for a January in London since 2013. According to STR Global analysts, the market continues to feel the effects of the November terrorist attacks in Paris, France. Negative RevPAR performance has been reported across all segments, and the steepest declines have come with group and contract travellers.
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