STR: Preliminary February data for Munich hotels
Based on daily data from February, Munich reported the following in year-over-year comparisons:
- Supply: +4.4%
- Demand: -3.0%
- Occupancy: -7.0% to 66.7%
- Average daily rate (ADR): -9.5% to EUR113.06
- Revenue per available room (RevPAR): -15.8% to EUR75.46
STR analysts note that the level of performance declines can be largely attributed to the calendar shift of ISPO Munich, which was held January this year versus February a year ago.
February is the fifth consecutive month with a drop in occupancy in the market. New supply coming online, and more in the pipeline, continue to pressure occupancy and ADR levels.
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