LONDON -- STR's preliminary July 2017 data for Berlin, Germany, indicates strong rate growth helped by events in the market.

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

  • Supply: +2.2%
  • Demand: +2.1%
  • Occupancy: -0.1% to 82.4%
  • Average daily rate (ADR): +14.1% to EUR93.01
  • Revenue per available room (RevPAR): +14.0% to EUR76.68

The German capital's rate performance was boosted by Berlin Fashion Week, which shifted from the last week of June in 2016 to the first week of July this year (4-7 July). Berlin also hosted the Lesbian and Gay City Festival (15-16 July). STR analysts attribute the market's marginal dip in occupancy to supply growth.

STR will release actual July 2017 results later this month.

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