Hotels in Munich reported positive year-over-year results
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; and 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. ■