LONDON -- STR's preliminary May 2017 data for Berlin, Germany, indicates significant occupancy levels and strong performance growth.

Based on daily data from May, Berlin reported the following in year-over-year comparisons:

  • Supply: +1.0%
  • Demand: +3.1%
  • Occupancy: +2.1% to 81.4%
  • Average daily rate (ADR): +5.8% to EUR105.41
  • Revenue per available room (RevPAR): +8.1% to EUR85.79

The absolute occupancy level would be the second-highest for any May on record in the market. STR analysts attribute demand to the following events: Re:Publica, digital culture conference (8-10 May); Deutscher Evangelischer Kirchentag (24-28 May), faith festival; and DFB-Pokal, German football final (27 May). The market reported 11 days of occupancy above 90% during the month.

STR will release actual May 2017 results later this month. The May edition of STR's Market Forecast is now available.

About STR

STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.

Alex Anstett
Media & Communications Coordinator - STR
STR