In December 2013, London hoteliers showed improvement of all main figures. The latest report by STR Global shows that the last month of 2013 can be called nothing but successful.
The increase of occupancy estimated 3% to the level of 76.3%. This was reached with growing supply of 1.3%. However, the demand still grows at a higher pace in December 2013 its growth estimated 4.4%. The average daily rate also added 6.4% to GBP134.95 in total. Naturally, the growth of all main figures helped London hoteliers improve their revenues RevPAR (revenue per available room) added 9.6% to GBP102.92.
The posted growth of RevPAR is the best result for the month of December since 1994. Of course, the month will contribute to overall good result of last year. With growing occupancy and average daily rate, hotels in London managed to show really strong results. The achieved occupancy of 76.3% is the record one in December for the last three years.
STR Global is a research company that gathers information and makes forecasts regarding tourist industry of Europe, Asia Pacific, Middle East, South America, and Africa. The company provides information for hotel operators, analysts, hotel developers, and other industry professionals.