Berlin hotel room rates jumped during an eventful July
Boosted by three key events, Berlin’s hotel industry posted its highest July levels in average daily rate (ADR) and revenue per available room (RevPAR), according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
Boosted by three key events, Berlin’s hotel industry posted its highest July levels in average daily rate (ADR) and revenue per available room (RevPAR), according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
July 2024 (year-over-year % change):
- Occupancy: 77.9% (-0.1%)
- ADR: EUR136.94 (+17.3%)
- RevPAR: EUR106.73 (+17.2%)
The 14 July final of the UEFA European Football Championship between Spain and England pushed the market’s ADR to EUR353.56 (+171.4% year over year) and RevPAR to EUR308.77 (+189.2%).
Berlin’s highest daily occupancy level was posted on Saturday, 27 July (88.8%)—the night of Christopher Street Day. The second highest occupancy (88.6%) was recorded on both the second and third nights of Berlin Fashion Week (2-3 July).
Overall, the market’s occupancy levels remained above the 70% mark for all but five days. For more information about the company and its products and services, please visit www.costargroup.com.