STR’s preliminary March 2021 data for Berlin hotels shows slightly better performance compared with recent months, albeit at overall low levels due to continued restrictions in Germany.
In addition to low absolute levels, year-over-year declines remained significant for the market.
- Occupancy: 16.2% (-36.7%)
- Average daily rate (ADR): EUR65.77 (-35.6%)
- Revenue per available room (RevPAR): EUR10.68 (-59.3%)
The absolute occupancy and RevPAR levels were the highest in Berlin since October 2020, while the ADR value was its highest since December 2020. Year-over-year percentage changes will turn positive in the coming months due to comparison with the earliest pandemic-affected months from last year.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate 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), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.