Beer once again flowed abundantly in the center of Munich for the 181st Oktoberfest, which took place from September 20 to October 5, 2014, and so did arrivals. This year once again the event has met with success among foreign beer lovers and had a strong impact on the city’s hotel performances that have improved over previous years.
Oktoberfest thus improved hotel performances in the city, as data collected by MKG Hospitality shows. During the 16 days of Beerfest 2014, Munich's properties reached an average occupancy rate of 91%, with peak occupancies higher than 96% on certain days. This high volume of visitors drove average daily rates up to more than 215 euros. The combination of these two activity indexes thus made it possible for the Revenue per available room (RevPAR) of hoteliers to climb to 11.4% across the period. While Oktoberfest 2013 was already a good vintage year for hoteliers, that of 2014 was better. Between these two editions, Munich's properties improved their RevPAR by 11.4%, thanks to 3.5 points growth in occupancy and 7.8% growth for average daily rates. In high spirits from the event, hotel indicators continue to rise from year to year and the Revenue per available room recorded in 2014 is 12.7% higher than in 2012 and 16.4% than in 2011.
Munich's hotel sector welcomes the positive windfall of Oktoberfest 2014 as its results had been down since the beginning of the year. From January to August 2014, the Revenue per available room on the market is down 3.5% compared to the same period last year. The heady activity of this September and October just might help forget a fairly slow beginning of the year.
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