WASHINGTON – 12 June 2024 – Helped by a number of events, Berlin hotels saw improved performance in May, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
May 2024 (year-over-year % change):
- Occupancy: 78.8% (+2.6%)
- Average daily rate (ADR): EUR133.90 (+6.0%)
- Revenue per available room (RevPAR): EUR105.57 (+8.7%)
Berlin was the host of several events in May, including CWIEME Berlin, Carnival of Cultures, Desertfest Berlin, and the Global Business Summit.
The market’s highest daily occupancy levels were seen on Tuesday, 14 May (95.2%), and Wednesday, 15 May (95.5%) – the first two nights of CWIEME Berlin. Overall, Berlin’s occupancy levels remained above the 70% mark throughout the month apart from six days.
The market’s ADR and RevPAR levels spiked on Saturday, 25 May, at EUR216.61 and EUR205.05, respectively – the only day of the month these levels surpassed EUR200. An increase in performance was due to the second night of Desertfest Berlin which overlapped with the first night of the Global Business Summit. The same night also pushed hotel occupancy to 94.7%.
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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
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 attract over 100 million unique monthly visitors. 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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