Madonna's concert and Berlin city events drove occupancies in May
Friday, 14th June 2024
Source : STR

Madonna’s final concert of her Celebration Tour pushed Rio de Janeiro’s hotel performance and helped by a number of events, Berlin hotels saw improved performance in May.

May 2024 (year-over-year % change):

  • Occupancy: 62.0% (+6.0%)
  • Average daily rate (ADR): BRL729.06 (+19.9%)
  • Revenue per available room (RevPAR): BRL452.14 (+27.2%)

On Saturday, 4 May, Madonna wrapped her Celebration Tour with a free concert on Rio de Janeiro’s Copacabana Beach, which attracted over 1.6 million fans, and resulted in the market’s highest daily levels for the month: occupancy (83.9%), ADR (BRL1,225.95) and RevPAR (BRL1,028.83).

The daily ADR and RevPAR levels were also the highest since early February 2024, while occupancy was the highest since November 2023.

The second-highest occupancy levels were seen on Wednesday, 22 May (82.5%) – the second night of the FPSO Brazil Congress, which overlapped with the final night of the Argus Rio Crude Conference.

May events pushed Berlin hotel performance

Helped by a number of events, Berlin hotels saw improved performance in May.

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%.

STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. 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 www.str.com

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