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29. Juni 2012 
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Great result for hotels in Munich as city thrives during Champions League final
Munich was one of the best performing of the markets polled this month as the city hosted the UEFA 2012 Champions League Final, according to the latest HotStats survey by TRI Hospitality Consulting.
Despite the city only accommodating visiting Chelsea fans as the final was played against the locally-based Bayern Munich, as with Madrid in 2010 and London in 2011, the hot ticket event in the European club football calendar drew a big crowd throughout the weekend.
Whilst the volume achieved over the weekend was not sufficient to achieve an overall growth in room occupancy for the month, Revenue per Available Room (RevPAR) in the German city grew by 21.3% as the achieved average room rate in the city soared by 23.7% to €160.58.
The average room rate achieved by Munich hoteliers in May was approximately 23% above the rolling 12-month average for the city at €130.53, and was fuelled by a strong increase in the achieved rate in the non-discounted Best Available Rate (+33.4%) segment.
The positive movement in rooms revenue was the primary contributor to the 11.5% growth in Total Revenue per Available Room (TrevPAR), as ancillary revenues over the month unsurprisingly declined, including a 16.4% drop in food and beverage revenue per available room, as football fans flooded the bars and restaurants throughout the city.
“The prestige now associated with the Champions League Final means that hospitality businesses thrive during this showpiece event, which this year included Munich hotels. Whilst this event has historically been a welcome respite from the doom and gloom for a number of host cities, this year it primarily served to bolster the strong performance for Munich hoteliers in 2012,” said David Bailey, deputy managing director at TRI Hospitality Consulting.
In addition to achieving strong revenue growth, keen cost control enabled hotels in Munich to achieve a 21.9% year-on-year increase in Gross Operating Profit per Available Room (GOPPAR) in May to €73.46, equivalent to a profit conversion of 43.6% of total revenue.
As a result of the strong performance in May, year-to-date profit per room at hotels in Munich is now 4.4% above the same period in 2011 at €40.19 at a conversion of 31.4% of total revenue.
Performance is mixed across other German cities with Düsseldorf leading the pack
Whilst the Champions League final gave Munich hoteliers a massive boost during May, it was Düsseldorf which topped the European cities polled this month with huge year-on-year growth. However, other German cities were left in their wake, according to the latest HotStats survey.
Despite the city only accommodating visiting Chelsea fans as the final was played against the locally-based Bayern Munich, as with Madrid in 2010 and London in 2011, the hot ticket event in the European club football calendar drew a big crowd throughout the weekend.
Whilst the volume achieved over the weekend was not sufficient to achieve an overall growth in room occupancy for the month, Revenue per Available Room (RevPAR) in the German city grew by 21.3% as the achieved average room rate in the city soared by 23.7% to €160.58.
The average room rate achieved by Munich hoteliers in May was approximately 23% above the rolling 12-month average for the city at €130.53, and was fuelled by a strong increase in the achieved rate in the non-discounted Best Available Rate (+33.4%) segment.
The positive movement in rooms revenue was the primary contributor to the 11.5% growth in Total Revenue per Available Room (TrevPAR), as ancillary revenues over the month unsurprisingly declined, including a 16.4% drop in food and beverage revenue per available room, as football fans flooded the bars and restaurants throughout the city.
“The prestige now associated with the Champions League Final means that hospitality businesses thrive during this showpiece event, which this year included Munich hotels. Whilst this event has historically been a welcome respite from the doom and gloom for a number of host cities, this year it primarily served to bolster the strong performance for Munich hoteliers in 2012,” said David Bailey, deputy managing director at TRI Hospitality Consulting.
In addition to achieving strong revenue growth, keen cost control enabled hotels in Munich to achieve a 21.9% year-on-year increase in Gross Operating Profit per Available Room (GOPPAR) in May to €73.46, equivalent to a profit conversion of 43.6% of total revenue.
As a result of the strong performance in May, year-to-date profit per room at hotels in Munich is now 4.4% above the same period in 2011 at €40.19 at a conversion of 31.4% of total revenue.
Performance is mixed across other German cities with Düsseldorf leading the pack
Whilst the Champions League final gave Munich hoteliers a massive boost during May, it was Düsseldorf which topped the European cities polled this month with huge year-on-year growth. However, other German cities were left in their wake, according to the latest HotStats survey.
