trending Market Intelligence /marketintelligence/en/news-insights/trending/xW99hSyotf_Wv1sMmY6LIg2 content esgSubNav
In This List

STR: Rising supply dents London, Berlin hotel occupancy in July

Blog

Post-webinar Q&A: Global Credit Risk Trends 2021 and Beyond

Blog

Shore Capital is Now Available in S&P Global’s Aftermarket Research Collection

Video

S&P Capital IQ Pro | Powered by Advanced Visualization

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage


STR: Rising supply dents London, Berlin hotel occupancy in July

The hotel sectors of London and Berlin enjoyed robust year-over-year growth in July, according to STR's preliminary data for the month.

London continued its growth streak despite recent terror attacks in the U.K., with demand inching up 2.5% from July 2016. The average daily rate, or ADR, for hotels in the city reached £165.42, up 6.6% year over year, while revenue per available room, or RevPAR, increased 5.6% to £144.76.

An occupancy dip of 0.9 percentage points during the month was attributed to supply rising 3.5% year over year. STR noted that the absolute hotel occupancy level in July would be London's highest yet for any month in 2017.

Meanwhile, in Berlin, demand rose 2.1% year over year in July, while ADR was up 14.1% at €93.01. RevPAR came in at €76.68, a 14.0% rise from a year earlier.

STR noted that hotel rate growth in the city was driven by Berlin Fashion Week during the first week of the month, as well as the Lesbian and Gay City Festival from July 15 to 16.

Occupancy in the German capital's hotels declined marginally by 0.1 percentage points to 82.4% as supply grew 2.2%.