Hotels in Munich reported positive year-over-year results during the month of December, according to preliminary data from STR. Occupancy increased 0.3% to 68.7%, ADR grew 4.9% to €118.24 ($143.47) and RevPAR saw a gain of 5.2% to €81.27 ($98.61).
LONDON—STR’s preliminary December 2017 data for Munich, Germany, indicates rate-driven performance growth.
Based on daily data from December, Munich reported the following in year-over-year comparisons:
- Supply: +3.7%
- Demand: +3.9%
- Occupancy: +0.3% to 68.7%
- Average daily rate (ADR): +4.9% to EUR118.24
- Revenue per available room (RevPAR): +5.2% to EUR81.27
STR analysts credit the Clinical Operations in Oncology Trials (5-6 December) as a driver of performance during the month. On 5 December specifically, occupancy reached 95.0%, and ADR jumped to EUR155.42.
Additionally, solid performance growth was seen during the Christmas to New Year’s holiday period. From 23-31 December, Munich reported six days with double-digit RevPAR growth.
STR will release full December and total-year 2017 results later this month. The January edition of STR’s market forecast will be available by 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 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
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