STR’s preliminary September 2016 data for Berlin, Germany, indicates record performance for the month boosted by a number of events in the market.
Based on daily data from September, Berlin reported the following in year-over-year comparisons:
- A decrease in supply (-0.1%) and an increase in demand (+0.3%);
- a 0.4% increase in occupancy to 90.0%;
- a 15.3% increase in average daily rate (ADR) to EUR135.70; and
- a 15.7% increase in revenue per available room (RevPAR) to EUR122.10.
The absolute occupancy, ADR and RevPAR levels would be the highest for any September on record in Berlin. The German capital hosted several major events during the month, including Lollapalooza Berlin 2016 (10-11 September), IFA Berlin consumer and electronics trade exhibition (2-7 September), ISTAF sporting festival (3 September) and the Berlin Biennale art festival (4 June-18 September).
STR will release actual September 2016 results later this month. The August edition of STR’s Market Forecast is now available.