STR: Preliminary February data for Munich hotels
STR’s preliminary February 2018 data for Munich, Germany, indicates performance declines.
Based on daily data from February, Munich reported the following in year-over-year comparisons:
- Supply: +4.4 percent
- Demand: -3.0 percent
- Occupancy: -7.0 percent to 66.7 percent
- Average daily rate (ADR): -9.5 percent to EUR113.06
- Revenue per available room (RevPAR): -15.8 percent to EUR75.46
STR analysts note that the level of performance declines can be largely attributed to the calendar shift of ISPO Munich, which was held January this year versus February a year ago.
February is the fifth consecutive month with a drop in occupancy in the market. New supply coming online, and more in the pipeline, continue to pressure occupancy and ADR levels.
STR will release full February results later this month. The January edition of STR’s Market Forecast and the 2017 Global Hotel Study are now available.