Munich hotels posted record high December room rates
Munich's hotel industry achieved record December ADR, RevPAR, and high occupancy driven by key events, highlighting robust market performance. The article Munich hotels posted record high December room rates first appeared in TravelDailyNews International.
WASHINGTON – Hotel industry in Munich reported its highest December average daily rate (ADR) and revenue per available room (RevPAR) on record, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
December 2024 (year-over-year % change):
- Occupancy: 68.3% (+10.9%)
- ADR: EUR127.79 (+7.0%)
- RevPAR: EUR87.31 (+18.7%)
In addition to the monthly records in ADR and RevPAR, Munich’s occupancy matched December 2018 as the highest for the month since 2014.
With Clinical Operations in Oncology Trials 2024 overlapping with the first two days of ISPO Winter 2024 (3-4 December), Munich’s daily hotel performance peaked on the first night of both events (Tuesday, 3 December) in each of the three key performance metrics: occupancy (96.8%), ADR (164.90 euros), RevPAR (159.54 euros). The daily occupancy level was the highest in the market since 9 April 2019.
The second highest daily performance levels were reported the following night (Wednesday, 4 December): occupancy (91.2%), ADR (153.25 euros) and RevPAR (139.77 euros).
The article Munich hotels posted record high December room rates first appeared in TravelDailyNews International.
