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Berlin Hotel Room Rates Jumped During an Eventful July – Image Credit Unsplash+
Boosted by three key events, Berlin’s hotel industry posted its highest July levels in average daily rate (ADR) and revenue per available room (RevPAR), according to preliminary data from CoStar.
July 2024 (year-over-year % change):
- Occupancy: 77.9% (-0.1%)
- ADR: EUR136.94 (+17.3%)
- RevPAR: EUR106.73 (+17.2%)
The 14 July final of the UEFA European Football Championship between Spain and England pushed the market’s ADR to EUR353.56 (+171.4% year over year) and RevPAR to EUR308.77 (+189.2%).
Berlin’s highest daily occupancy level was posted on Saturday, 27 July (88.8%)—the night of Christopher Street Day. The second highest occupancy (88.6%) was recorded on both the second and third nights of Berlin Fashion Week (2-3 July).
Overall, the market’s occupancy levels remained above the 70% mark for all but five days.
STR is the global leader in hospitality data benchmarking, analytics and marketplace insights. In 2019, STR was acquired by CoStar, a leading provider of online real estate marketplaces, information and analytics in the property markets. For more information about the company and its products and services, please visit www.costargroup.com.