Berlin Hotels Report 14.0 Percent RevPAR Growth for July 2017
According to STR preliminary July data, Berlin hotels reported occupancy was mostly flat (-0.1% to 82.4%), while ADR increased 14.1% to 93.01 ($109.14) and RevPAR rose 14% to 76.68 ($89.98).
STR’s preliminary July 2017 data for Berlin, Germany, indicates strong rate growth helped by events in the market.
Based on daily data from July, Berlin reported the following in year-over-year comparisons:
- Supply: +2.2%
- Demand: +2.1%
- Occupancy: -0.1% to 82.4%
- Average daily rate (ADR): +14.1% to EUR93.01
- Revenue per available room (RevPAR): +14.0% to EUR76.68
The German capital’s rate performance was boosted by Berlin Fashion Week, which shifted from the last week of June in 2016 to the first week of July this year (4-7 July). Berlin also hosted the Lesbian and Gay City Festival (15-16 July). STR analysts attribute the market’s marginal dip in occupancy to supply growth.
STR will release actual July 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.