trending Market Intelligence /marketintelligence/en/news-insights/trending/cVdXqL2QHBnYUw97-4-Kng2 content esgSubNav
In This List

STR reports strong November hotel metrics for London, Berlin

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective

Blog

Insights Weekly: Midstream sector gains; loan growth momentum; insurance M&A on the rise


STR reports strong November hotel metrics for London, Berlin

STR reported solid increases in three key hotel performance metrics in London and Berlin in November, while data from Abu Dhabi reflected declines in hotel performance.

Hotels in London logged a 5.4% year-over-year increase in occupancy to 86.1%, and the average daily rate increased 2.6% to £153.07. RevPAR recorded an 8.2% increase to £131.78. Supply and demand also increased 3.0% and 8.5%, respectively.

STR said London's absolute RevPAR is the highest for the month of November since 1994, and the occupancy growth is the highest since July 2013. STR analysts further noted that London's hotel market witnessed an aftershock in November 2015 following the terror attacks in Paris.

In Berlin, occupancy increased 5.0% year over year to 81.1% in November, and the ADR increased 1.7% to €95.94. RevPAR increased 6.8% to €77.83. Supply remained nearly flat at a 0.4% increase, while demand increased 5.4%.

The absolute occupancy level in Berlin marked the highest ever for the month of November, and performance was boosted by a lack of supply growth, which remains at 0.5% year-to-date, STR said.

Meanwhile in the Middle East, Abu Dhabi saw an 11.1% year-over-year decline in ADR to 660.14 United Arab Emirates dirhams. RevPAR fell 13.8% to 534.97 dirhams and occupancy shrank 3.1% to 81.0%. Supply increased 2.7% while demand slipped 0.4%.

STR noted that the absolute ADR was the highest in Abu Dhabi since November 2015, despite the annual decline.

As of Dec. 9, US$1 was equivalent to 3.67 United Arab Emirates dirhams.