STR: Preliminary May data for Berlin hotels
Based on daily data from May, Berlin reported the following in year-over-year comparisons:
- Supply: +2.7%
- Demand: -0.6%
- Occupancy: -3.3% to 78.7%
- Average daily rate (ADR): -0.4% to EUR103.55
- Revenue per available room (RevPAR): -3.7% to EUR81.51
STR analysts note that although there was a decline in RevPAR, this is the second-highest absolute RevPAR level for any May on record in Berlin. Consistent supply growth with stagnant demand has lowered performance levels. Due to public holidays and the Pentecost holiday period, there was only one full business week in May.
When looking at daily data, ADR and RevPAR were helped by the 2018 DFB-Pokal Final and the 2018 Berlin ePrix on 19 May, when ADR and RevPAR rose 69.7% and 79.5%, respectively.
STR will release full May results later this month. The May edition of STR's Market Forecast is available now for Berlin and a host of other markets across the globe.
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.