STR: Preliminary December data for Munich hotels
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 percent
- Demand: +3.9 percent
- Occupancy: +0.3 percent to 68.7 percent
- Average daily rate (ADR): +4.9 percent to EUR118.24
- Revenue per available room (RevPAR): +5.2 percent 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 percent, 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.