Munich Hotels Report Overall Performance Decline for February 2018
Munich hotels reported occupancy nosedived 7% to 66.7% in February, according to preliminary STR data. ADR similarly dropped 9.5% to 113.06 ($139.85) and RevPAR fell 15.8% to 75.46 ($93.34).
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%
- Demand: -3.0%
- Occupancy: -7.0% to 66.7%
- Average daily rate (ADR): -9.5% to EUR113.06
- Revenue per available room (RevPAR): -15.8% 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.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.