Munich Hotels Report Positive YOY Performance for August 2017
Munich hotels reported positive year-over-year performance in August, according to preliminary monthly data from STR. Occupancy rose 3.8% to 76.8%, ADR increased just 0.2% to 113.93 ($135.96) and RevPAR rose 3.9% to 87.54 ($104.47).
STR’s preliminary August 2017 data for Munich, Germany, indicates a significant increase in demand.
Based on daily data from August, Munich reported the following in year-over-year comparisons:
- Supply: +4.3%
- Demand: +8.2%
- Occupancy: +3.8% to 76.8%
- Average daily rate (ADR): +0.2% to EUR113.93
- Revenue per available room (RevPAR): +3.9% to EUR87.54
Despite significant supply growth, Munich hotels experienced high occupancy levels during the primary month of school break season. At the same time, STR analysts note that Munich’s nearly flat rate growth was likely the result of additional supply affecting the market’s room prices.
STR will release full August 2017 results later this month.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
Categories: Hotel Industry News