STR: Preliminary August data for Munich hotels
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 percent
· Demand: +8.2 percent
· Occupancy: +3.8 percent to 76.8 percent
· Average daily rate (ADR): +0.2 percent to EUR113.93
· Revenue per available room (RevPAR): +3.9 percent 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.