Berlin’s hotel industry achieved record-breaking performance in July 2024, with average daily rates (ADR) and revenue per available room (RevPAR) reaching their highest levels for the month. This surge in demand was driven by three major events, according to preliminary figures from CoStar, a leading provider of real estate information and analytics.
The UEFA European Football Championship final, held on July 14th, saw Spain face off against England, significantly boosting hotel rates. ADR soared to EUR353.56, a remarkable 171.4% increase from the previous year, while RevPAR escalated to EUR308.77, representing an impressive 189.2% year-on-year growth.
Another key driver of high occupancy was Christopher Street Day, a LGBTQ+ pride event held on July 27th. The event resulted in the highest single-day occupancy rate for the month, reaching 88.8%. Berlin Fashion Week, taking place from July 2nd to 3rd, also contributed significantly, with occupancy rates reaching 88.6% on its second and third days.
The robust demand throughout July was reflected in consistent occupancy rates. Berlin’s hotels maintained occupancy levels above 70% on all but five days of the month, highlighting the strong performance of the city’s hospitality industry during this period.
