STR's preliminary October 2016 performance data for Munich indicates the market experienced a 4.2% occupancy decrease to 82.5%, an 8.9% ADR decrease to €149.93 ($163.48) and a 12.7% RevPAR decrease to €123.74 ($134.93).
LONDON—STR’s preliminary October 2016 data for Munich, Germany, indicates sharp performance declines.
Based on daily data from October, Munich reported the following in year-over-year comparisons:
- an increase in supply (+2.8%) and a decrease in demand (-1.5%);
- a 4.2% decrease in occupancy to 82.5%;
- an 8.9% decrease in average daily rate (ADR) to EUR149.93; and
- a 12.7% decrease in revenue per available room (RevPAR) to EUR123.74.
STR analysts note that Oktoberfest (17 September to 3 October) did not provide its typical boost to Munich’s hotel market this year. That may in part be due to security concerns following the shootings at the Munich Olympia shopping mall in July.
Munich’s ADR increased during various trade shows the market hosted in October, however, performance levels for most other days of the month resulted in performance declines.
STR will release actual October 2016 results later this month. The August edition of STR’s Market Forecast is now available.
International Media Contacts:
Media & Communications Coordinator
+44 (0)207 922 1979
Director of Marketing, Research & Analysis
+44 (0)207 922 1965
The above is a news release written by a third party. While HNN’s editorial mission is to produce unique content, it occasionally publishes timely, newsworthy news releases to complement in-house reporting efforts. All news releases are clearly marked as such. For questions and clarification, please contact Editor-in-Chief Stephanie Ricca at email@example.com.