STR: Preliminary December data for Munich hotels
LONDON -- STR's preliminary December 2017 data for Munich, Germany, indicates rate-driven performance growth.
Based on daily data from December, Munich reported the following in year-over-year comparisons:
- Supply: +3.7%
- Demand: +3.9%
- Occupancy: +0.3% to 68.7%
- Average daily rate (ADR): +4.9% to EUR118.24
- Revenue per available room (RevPAR): +5.2% to EUR81.27
STR analysts credit the Clinical Operations in Oncology Trials (5-6 December) as a driver of performance during the month. On 5 December specifically, occupancy reached 95.0%, and ADR jumped to EUR155.42.
Additionally, solid performance growth was seen during the Christmas to New Year's holiday period. From 23-31 December, Munich reported six days with double-digit RevPAR growth.
STR will release full December and total-year 2017 results later this month. The January edition of STR's market forecast will be available by the end of the month.
Media & Communications Coordinator - STR
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.