Munich hotels reported mixed year-over-year performance in October, according to preliminary monthly data from STR. Occupancy declined 3.1% to 79.9%, ADR rose 1.6% to €144.00 ($167.78) and RevPAR dropped 1.5% to €115.04 ($134.04).
LONDON—STR’s preliminary October 2017 data for Munich, Germany, indicates an overall performance decline consistent with significant supply growth.
Based on daily data from October, Munich reported the following in year-over-year comparisons:
- Supply: +2.9%
- Demand: -0.3%
- Occupancy: -3.1% to 79.9%
- Average daily rate (ADR): +1.6% to EUR144.00
- Revenue per available room (RevPAR): -1.5% to EUR115.04
This would mark the first time since 2009 that October occupancy in Munich dipped below 80%. STR analysts note that while demand was nearly flat year over year, supply grew by more than 2.5% for the fifth consecutive month and seventh time overall in 2017.
The market’s absolute occupancy level was lifted near the end of the month by the Eat & Style food festival (27-29 October).
STR will release full October 2017 results later this month.
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 email@example.com.