Home » HOTEL NEWS » Berlin’s Eventful July Boosts Hotel Room Rates To New Peaks
Saturday, August 17, 2024
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Berlin’s hotel rates soared in July, driven by major events like the UEFA Championship and Fashion Week, achieving record ADR and RevPAR.
In July 2024, Berlin’s hotel sector achieved its peak average daily rate (ADR) and revenue per available room (RevPAR) for the month, spurred by three major events, as per preliminary figures from CoStar. CoStar specializes in online real estate marketplaces, delivering crucial information and analytics across property markets.
Key statistics for July 2024 (year-on-year % change):
- Occupancy: 77.9% (a slight decrease of 0.1%)
- ADR: EUR 136.94 (up by 17.3%)
- RevPAR: EUR 106.73 (increased by 17.2%)
The UEFA European Football Championship final on 14 July, featuring Spain against England, significantly boosted the rates, with ADR soaring to EUR353.56, marking a 171.4% increase from the previous year, and RevPAR escalating to EUR308.77, up by 189.2%.
The highest single-day occupancy rate was noted on Saturday, 27 July, reaching 88.8% during Christopher Street Day. Close behind, Berlin Fashion Week saw occupancy rates of 88.6% on its second and third days (2-3 July).
Throughout the month, occupancy rates stayed above 70% on all but five days, underscoring a robust period for Berlin’s hospitality industry.
