London hotels report ‘significant performance’ over Christmas

London hotels hit their highest occupancy levels “for any December since 2018” during the holiday season, according to recent data.

Preliminary figures from commercial real estate research firm CoStar revealed occupancy grew to 80.5% in the capital in December 2023, up 5.7% compared to last year, while average daily rate (ADR) grew to £208.90, with a peak of £287.25 on New Year’s Eve.

Revenue per available room (revpar) also rose by 7.8% to £168.07.

Both ADR and revpar were the “highest for any December on record in the market”.

Occupancy was at its highest on 6 and 7 December, at 94.9% and 94.6%, and consistently remained above the 60% mark during the month.

CoStar’s hotel performance sample features 80,000 properties and 10.5 million rooms across the globe.

Image: Shutterstock/Elena Prosvirova