Munich Hotels Report Overall Performance Growth for April 2018
According to preliminary April data from STR, hotels in Munich reported occupancy rose 2% to 73.1% during the month, while ADR increased 12.9% to 119.50 ($143.23) and RevPAR rose 15.1% to 87.30 ($104.64).
STR’s preliminary April 2018 data for Munich, Germany, indicates significant demand and performance growth.
Based on daily data from April, Munich reported the following in year-over-year comparisons:
- Supply: +5.0%
- Demand: +7.1%
- Occupancy: +2.0% to 73.1%
- Average daily rate (ADR): +12.9% to EUR119.50
- Revenue per available room (RevPAR): +15.1% to EUR87.30
This marked the first ADR and RevPAR increases for any month in Munich since December 2017. STR analysts credit the performance largely to the favorable side of the Easter calendar shift from April in 2017 to March in 2018. Analytica and ceramitec, which both occurred 10-13 April, also provided a performance boost. Typically, April performance fluctuates in the market due to off years for the bauma trade fair.
STR will release full April results later this month. The May edition of STR’s Market Forecast will be available at the end of the 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: Market Reports