STR: Preliminary October data for Munich hotels
STR's preliminary October 2017 data for Munich, Germany, indicates a significant increase in demand. Based on daily data from October, Munich reported the following in year-over-year comparisons:
LONDON -- STR's preliminary October 2017 data for Munich, Germany, indicates an overall performance decline consistent with significant supply growth.
Based on daily data from October, Munich reported the following in year-over-year comparisons:
- Supply: +2.9%
- Demand: -0.3%
- Occupancy: -3.1% to 79.9%
- Average daily rate (ADR): +1.6% to EUR144.00
- Revenue per available room (RevPAR): -1.5% to EUR115.04
This would mark the first time since 2009 that October occupancy in Munich dipped below 80%. STR analysts note that while demand was nearly flat year over year, supply grew by more than 2.5% for the fifth consecutive month and seventh time overall in 2017.
The market's absolute occupancy level was lifted near the end of the month by the Eat & Style food festival (27-29 October).
STR will release full October 2017 results later this month.
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