WASHINGTON – Adele’s 10-day residency drove significant performance growth for Munich’s hotel industry, according to August 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
Adele performed a total of 10 nights at the Messe München, pushing double-digit growth across the August metrics: occupancy (+15.9% to 77.0%), ADR (+46.6% to EUR159.04) and RevPAR (+69.9% to EUR122.46).
The ADR and RevPAR levels were the highest for any August on record in Munich, while occupancy was the highest for August since 2017.
The market posted its highest ADR (+99.5% to EUR228.52) and RevPAR (+138.9% to EUR211.04) on opening night (2 August), while occupancy was the highest on 30 August (+44.2% to 93.7%).
— Source: © 2024 CoStar Group
Room rates exceeded EUR200 on nine of 10 concert nights. The peak ADR was Munich’s ninth highest this year, but surpassed levels seen during Taylor Swift’s Eras Tour in late-July (EUR208 on 27 July and EUR166 on 28 July).
For more information about the company and its products and services, please visit www.costargroup.com.
Additional Performance Data
CoStar’s world-leading hotel performance sample comprises 85,000 properties and 11 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.
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 over 183 million monthly average unique visitors in the second 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.
Haley Luther
Communications Manager
+1 (216) 278 0627
STR
Please visit:
Our Sponsor