Munich Hotels Report Overall Performance Decline for October 2017
STR’s preliminary October 2017 data for Munich, Germany, indicates an overall performance decline consistent with significant supply growth.
Based on daily data from October, Munich reported the following in year-over-year comparisons:
- Supply: +2.9%
- Demand: -0.3%
- Occupancy: -3.1% to 79.9%
- Average daily rate (ADR): +1.6% to EUR144.00
- Revenue per available room (RevPAR): -1.5% to EUR115.04
This would mark the first time since 2009 that October occupancy in Munich dipped below 80%. STR analysts note that while demand was nearly flat year over year, supply grew by more than 2.5% for the fifth consecutive month and seventh time overall in 2017.
The market’s absolute occupancy level was lifted near the end of the month by the Eat & Style food festival (27-29 October).
STR will release full October 2017 results later this month.
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