STR’s preliminary July 2017 data for Berlin, Germany, indicates strong rate growth helped by events in the market.
Based on daily data from July, Berlin reported the following in year-over-year comparisons:
- Supply: +2.2%
- Demand: +2.1%
- Occupancy: -0.1% to 82.4%
- Average daily rate (ADR): +14.1% to EUR93.01
- Revenue per available room (RevPAR): +14.0% to EUR76.68
The German capital’s rate performance was boosted by Berlin Fashion Week, which shifted from the last week of June in 2016 to the first week of July this year (4-7 July). Berlin also hosted the Lesbian and Gay City Festival (15-16 July). STR analysts attribute the market’s marginal dip in occupancy to supply growth.
STR will release actual July 2017 results later this month.
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