LONDON – Aligned with seasonal trends, Berlin’s hotel industry reported higher levels of occupancy and revenue per available room (RevPAR) month over month, according to preliminary March 2023 data from STR.
- Occupancy: 67.6%
- Average daily rate (ADR): EUR112.14
- Revenue per available room (RevPAR): EUR75.86
The ADR and RevPAR levels surpassed the 2019 comparables by 16.5% and 2.7%, respectively. Occupancy remained 12.0% lower than the pre-pandemic comparable.
The market reported three days of daily occupancy above 80%: Wednesday, 29 March (83.5%), Tuesday, 28 March (82.6%), and Wednesday, 22 March (81.7%). The higher occupancy on weekdays points to improving corporate demand.
More of STR’s analysis can be found here.
About STR
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets. For more information, please visit str.com and costargroup.com.
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