STR’s preliminary February 2017 data for Munich, Germany, indicates strong performance growth.
Based on daily data from February, Munich reported the following in year-over-year comparisons:
- Supply: +2.7%
- Demand: +8.7%
- Occupancy: +5.9% to 72.0%
- Average daily rate (ADR): +10.9% to EUR126.27
- Revenue per available room (RevPAR): +17.5% to EUR90.85
STR analysts attribute the spike in demand and ADR to special events such as ISPO Munich, sports business trade fair (5-8 February); Munich Security Conference (17-19 February); and Inhorgenta Munich, international jewelry and watch exhibition (18-21 February).
Additionally, a double-digit decline in RevPAR last February created a lower basis for comparison.
STR will release actual February 2017 results later this month. The February edition of STR’s Market Forecast is now available.
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