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%)
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.
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.
For more information about the company and its products and services, please visit www.costargroup.com.
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