STR’s preliminary May 2017 data for Berlin, Germany, indicates significant occupancy levels and strong performance growth.
Based on daily data from May, Berlin reported the following in year-over-year comparisons:
- Supply: +1.0%
- Demand: +3.1%
- Occupancy: +2.1% to 81.4%
- Average daily rate (ADR): +5.8% to EUR105.41
- Revenue per available room (RevPAR): +8.1% to EUR85.79
The absolute occupancy level would be the second-highest for any May on record in the market. STR analysts attribute demand to the following events: Re:Publica, digital culture conference (8-10 May); Deutscher Evangelischer Kirchentag (24-28 May), faith festival; and DFB-Pokal, German football final (27 May). The market reported 11 days of occupancy above 90% during the month.
STR will release actual May 2017 results later this month. The May edition of STR’s Market Forecast is now available.
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