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London Hotels Achieve Record-Breaking Performance in December 2023

London Hotel Performance in December 2023

London Hotels Achieve Record-Breaking Performance in December 2023

In a notable surge fueled by the holiday travel season, London hotels showcased remarkable performance levels, reveals preliminary data from CoStar.

London, December 2023 – Here’s a snapshot of the year-over-year changes:

  1. Occupancy: Soared to 80.5%, marking a substantial 5.7% increase.
  2. Average Daily Rate (ADR): Reached GBP208.90, reflecting a solid 2.0% uptick.
  3. Revenue per Available Room (RevPAR): Hit GBP168.07, boasting an impressive 7.8% surge.

Setting new records, ADR and RevPAR levels for December hit unprecedented heights in the market, while the occupancy rate was the highest since December 2018.

The month witnessed London’s occupancy peak in the early days, particularly on Thursday, 7 December, and Wednesday, 6 December, registering at 94.9% and 94.6%, respectively. Throughout December, daily occupancy levels consistently surpassed the 60.0% mark. Notably, London’s hotel room rates achieved their zenith on New Year’s Eve, reaching an impressive GBP287.25.