WASHINGTON – 10 July 2024 – Pushed by the 2024 UEFA European Football Championship, Cologne’s hotel industry recorded its highest monthly average daily rate (ADR) and revenue per available room (RevPAR) on record, according to June preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
June 2024 (year-over-year % change):
- Occupancy: 81.2% (+7.9%)
- ADR: EUR174.18 (+35.5%)
- RevPAR: EUR141.47 (+46.2%)
In addition to the all-time highs in monthly ADR and RevPAR, occupancy was the highest for the market since November 2019.
The market’s ADR reached EUR274.57 on Saturday, 15 June, the night of a group stage match between Switzerland and Hungary. This was the highest daily ADR level in the market since October 2023. The second highest ADR (EUR268.79) was recorded on Wednesday, 19 June when Switzerland squared off with Scotland.
Occupancy reached a monthly high (95.5%) on Tuesday, 4 June, the first night of The Tire Cologne trade fair. The second highest level (95.3%) occurred during the aforementioned Switzerland and Scotland match.
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Additional Performance Data
CoStar’s world-leading hotel performance sample comprises 82,000 properties and 10.7 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.
News Media Contact
Karolina Capova
Media Relations Executive – STR
media@str.com
ABOUT COSTAR GROUP, INC.
CoStar Group (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar Group conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of real estate information. CoStar is the global leader in commercial real estate information, analytics, and news, enabling clients to analyze, interpret and gain unmatched insight on property values, market conditions and availabilities. Apartments.com is the leading online marketplace for renters seeking great apartment homes, providing property managers and owners a proven platform for marketing their properties. LoopNet is the most heavily trafficked online commercial real estate marketplace with over twelve million monthly global unique visitors. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry. Ten-X offers a leading platform for conducting commercial real estate online auctions and negotiated bids. Homes.com is the fastest growing online residential marketplace that connects agents, buyers, and sellers. OnTheMarket is a leading residential property portal in the United Kingdom. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. Business Immo is France’s leading commercial real estate news service. Thomas Daily is Germany’s largest online data pool in the real estate industry. Belbex is the premier source of commercial space available to let and for sale in Spain. CoStar Group’s websites attracted 170 million quarterly average monthly unique visitors for the first quarter of 2024. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada, and Asia. From time to time, we plan to utilize our corporate website, CoStarGroup.com, as a channel of distribution for material company information. For more information, visit CoStarGroup.com.
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