The ADR and RevPAR levels were the highest for any December on record in the market, while occupancy was the highest for any December since 2018.
WASHINGTON – Helped by the holiday travel season, London hotels posted significant performance levels, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
December 2023 (year-over-year % change):
- Occupancy: 80.5% (+5.7%)
- Average daily rate (ADR): GBP208.90 (+2.0%)
- Revenue per available room (RevPAR): GBP168.07 (+7.8%)
According to daily data, London saw its highest occupancy levels early in the month – Thursday, 7 December, and Wednesday, 6 December (at 94.9% and 94.6%, respectively). The market’s daily occupancy levels remained above the 60.0% mark throughout the month. London’s hotel room rates peaked on New Year’s Eve at GBP287.25.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
