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STR: Preliminary December data for Munich hotels

January 15, 2018 Hotel Trends No Comments Email Email

STR’s preliminary December 2017 data for Munich, Germany, indicates rate-driven performance growth.https://www.centarahotelsresorts.com/cosihotels/?utm_source=e-global&utm_medium=banner&utm_campaign=cosi-firstlaunch&fbtrack=CUST-cosi-firstlaunch-e-global-banner

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.

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