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Improving corporate demand is leading to higher hotel rates in the German capital Berlin, according to the latest data from hotel industry analyst STR.
Berlin recorded an average daily rate of €112.14 in March, which was a rise of 16.5 per cent compared with the same month in 2019. The increase in rates came despite Berlin’s overall hotel occupancy last month still being 12 percentage points lower than pre-pandemic levels at 67.6 per cent.
Room rates in the city were pushed up by strong business travel demand on midweek nights during March, with occupancy exceeding 80 per cent on two Wednesdays and one Tuesday in the second half of the month.
“The higher occupancy on weekdays points to improving corporate demand,” added STR.
The update on Berlin’s hotel industry came after STR found that several of Europe’s key hotel markets, including London and Amsterdam, had improved their profitability levels in February.
London’s gross operating profit per available room was £52.60 in February, which was 83 per cent of the level achieved during the same month pre-Covid. While Amsterdam’s profit per room reached €32.80 – around 26 per cent below the comparable month in 2019.
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