The Munich hotel market reported a 5.9% occupancy increase to 72%, according to STR's preliminary February 2017 data. ADR rose 10.9% to €126.27 ($133.56) and RevPAR climbed 17.5% to €90.85 ($96.09).
LONDON—STR’s preliminary February 2017 data for Munich, Germany, indicates strong performance growth.
Based on daily data from February, Munich reported the following in year-over-year comparisons:
- Supply: +2.7%
- Demand: +8.7%
- Occupancy: +5.9% to 72.0%
- Average daily rate (ADR): +10.9% to EUR126.27
- Revenue per available room (RevPAR): +17.5% to EUR90.85
STR analysts attribute the spike in demand and ADR to special events such as ISPO Munich, sports business trade fair (5-8 February); Munich Security Conference (17-19 February); and Inhorgenta Munich, international jewelry and watch exhibition (18-21 February).
Additionally, a double-digit decline in RevPAR last February created a lower basis for comparison.
STR will release actual February 2017 results later this month. The February edition of STR’s Market Forecast is now available.
International Media Contacts:
Media & Communications Coordinator
+44 (0)207 922 1979
Director of Marketing, Research & Analysis
+44 (0)207 922 1965
The above is a news release written by a third party. While HNN’s editorial mission is to produce unique content, it occasionally publishes timely, newsworthy news releases to complement in-house reporting efforts. All news releases are clearly marked as such. For questions and clarification, please contact Editor-in-Chief Stephanie Ricca at firstname.lastname@example.org.