The 2023 edition of Oktoberfest, held from 16 September to 3 October, broke attendance records by welcoming around 7.2 million visitors to Munich. This remarkable performance not only surpassed the previous record of 7.1 million festival-goers, set in 1985, but also recorded substantial growth on the previous year's figure of 5.7 million, surpassing even the 2019 figure of 6.3 million. While the beer flowed freely in the breweries, the hotels filled up and performed very well, particularly in terms of average prices.

This year, the festival has been extended by two days, ending on German Unity Day (the bank holidays celebrated on 3 October), after being cancelled in 2020 and 2021 due to Covid. According to Oktoberfest director Baumgärtner, food and drink sales rose by 15%, demonstrating the positive impact of the event on the tourism industry as a whole. Breweries estimated that around 6.5 million beers were consumed during the festival, marking a slight drop from 7.1 million in 2022 and 7.3 million in 2019. The trend towards non-alcoholic alternatives was also noticeable. Business tourism also contributed to hotel occupancy at the festival.

 

Oktoberfest, an international attraction

Overall, the festival management, fairgoers, market traders and innkeepers expressed great satisfaction with the festival and the diversity of participants. Although most visitors to the Oktoberfest traditionally come from Munich and the surrounding area, the number of international visitors increased significantly this year. Festival-goers from the USA, Austria, France and Italy took part in the festivities on Theresienwiese, with the Italians representing the largest group. To fully immerse themselves in the Oktoberfest atmosphere, many international visitors chose to dress up in traditional Bavarian costumes.

Hotels in Munich (All categories)

 

The overall cumulative hotel performance during Oktoberfest for Munich hotels was 79.6% occupancy, €222.3 average price and €176.9 RevPAR, with changes of +4.4 points, +0.5% and +6.4% compared with 2022 and -9.5 points, +5.0% and -6.2% compared with 2019.

 

Occupancy rates for the majority of dates are relatively high, ranging from 60% to 80%, a moderate increase on the week before when rates can fall below 60%.

• The festival kicked off on a Saturday with an occupancy rate of 77.12%, indicating that visitors were already arriving in Munich to kick off the Oktoberfest.
• Wednesday 20 and Saturday 23 stood out, with occupancy rates of 87.52% and 86.61% respectively. 
• The most notable peak of the event was recorded on Saturday 30 September, with a rate of 89.81%, i.e. almost 90% of hotel rooms occupied. This probably coincides with the closing weekend of the Oktoberfest, a period when many visitors come to Munich to take part in the final celebrations.
• As the Oktoberfest draws to a close, there is a noticeable drop in occupancy, with the lowest rate seen on 2 October (62.16%). This could be due to the departure of some visitors before the end of the festival.
• Occupancy on the last day of the Oktoberfest remained relatively lower than on the peak days of the festival, but still showed decent demand (70.78%).

Comparison between 2022 and 2019

• In 2023, occupancy rates are, in most cases, higher than on the same dates in 2022. This suggests a significant recovery in hotel occupancy for the Oktoberfest after the disruption caused by the pandemic. The largest delta between 2023 and 2022 occurred on 30 September, with an increase of 10.12 percentage points, and on 3 October, with a decrease of -14.44 percentage points.
• Unlike 2022, many dates in 2023 have lower occupancy rates than in 2019. Only one date stands out for its positive trend, 27 September, with an increase of 13.49 points.
• Occupancy rates for the last two days of Oktoberfest in 2023 (October 2 and 3) are significantly lower than in 2019, with declines of 34.7 and 25.01 points respectively.

In summary, the 2023 occupancy rates for Oktoberfest show that the event continues to attract large numbers of visitors, with strong demand for hotel accommodation, particularly during the midweek and weekend periods. The occupancy rate falls significantly as the festival draws to a close, which is a common trend as visitors generally start to leave Munich after the main celebrations.

 

Overall, average prices are higher throughout the Oktoberfest period.

• The festival began with an average price of €230.88. This is a relatively high average price compared to the week before the event, indicating that visitors were prepared to pay a significant amount for hotel accommodation on the first day of Oktoberfest.
• Towards the middle of the festival, on 20 September, the average price remained relatively high (€223.94), as demand for hotel rooms remained strong during this period.
• The peak in average prices was reached on 23 September, with a rate of €254.50. This was a considerable increase, indicating that as the Oktoberfest approached its peak, hotels were charging full price for their rooms.
• On the closing weekend of the Oktoberfest, the average price remained high at €248.76.
• After the main celebrations were over, average prices fell significantly on 1 and 2 October, to €175.07 and €174.13 respectively.
• The last day of Oktoberfest saw a return to high average prices, with hotels charging €251.20. This can be attributed to visitors choosing to extend their stay until the last day of the event.

Comparison between 2022 and 2019

• In 2023, average prices for Oktoberfest are generally higher than in 2022, as hotels were able to charge more for their rooms in 2023. The biggest difference between 2023 and 2022 occurred on 2 October, with a significant drop of 28.84%.
• In 2023, average prices for Oktoberfest are also higher than in 2019 for most dates. In particular, prices for certain dates, especially 28 and 29 September, are significantly higher than in 2019, with increases of 30.54% and 22.19% respectively.
• There are only two major decreases on the last two days of the festival, with price cuts of 28.84% and 19.54% respectively.

To sum up, average prices for hotels in Munich during the Oktoberfest in 2023 show an upward trend, which is part of a general trend of rising prices in the hotel sector since the pandemic.

 

• The RevPAR on the opening day of Oktoberfest was €178.06. This is a good start for the festival, with hotels able to get a reasonably high price for their rooms as visitors arrived in Munich.
  The highest RevPAR in 2023 was recorded on September 30, the closing weekend of Oktoberfest. With a RevPAR of €223.40, this date marked the peak in revenue for Munich hotels during the festival.Throughout the Oktoberfest, RevPAR fluctuated, reflecting the dynamic nature of the event.
  As the Oktoberfest drew to a close, RevPAR fell significantly on 1 and 2 October. On these dates, RevPAR fell to €124.54 and €108.25 respectively.

Comparison between 2022 and 2019

In 2023, RevPAR for Oktoberfest is, for the most part, higher than in 2022, indicating better revenue performance for Munich hotels. The differences in RevPAR range from a moderate increase on 16 September (8.48%) to a substantial decrease on 2 October (-35.16%).

• Compared to 2019, RevPAR for 2023 is generally higher, as hotels in Munich have been more successful in generating revenue during Oktoberfest over time. RevPAR differences vary, with some days in 2023 showing significant increases, such as 27 September (53.39%), while others, particularly 2 October, see substantial decreases (-64.68%).

In summary, RevPAR for Munich hotels during the Oktoberfest in 2023 suggests a healthy revenue performance with fluctuations throughout the festival. Hotels generated more revenue in 2023 compared to 2022 and 2019. The data reflects the resilience and adaptability of the Munich hotel industry during a major cultural event such as Oktoberfest.

 

Performance of 3* and 4* hotels

 

 

Taking the Oktoberfest period as a whole, 4-star hotels performed as follows: an occupancy rate of 76.0%, an average rate of €225.2 and a RevPAR of €171.2.

• Compared to 2022, they recorded a 3.6-point increase in occupancy, a slight 1.2% rise in average rate, and a 6.2% growth in RevPAR.
• In contrast, compared to 2019, 4-star hotels experienced a 13.3 point decline in occupancy, a 5.0% increase in average rate, and a 10.6% decrease in RevPAR.

 

The 3-star hotels recorded the following performances: an occupancy rate of 78.0%, an average rate of €198.8 and a RevPAR of €155.1.

• Compared with 2022, they saw an 8.7-point drop in occupancy rate, a 1.2% increase in average rate and a 1.4% rise in RevPAR.
• Compared with 2019, they have seen a 9.1 point drop in occupancy, a 3.5% increase in average fare, and a 7.3% decrease in RevPAR.

Performance of 3* vs 4* hotels

Overall cumulative performance during Oktoberfest, 3-star hotels had higher occupancy rates, while 4-star hotels had higher rates.

In terms of RevPAR growth compared to 2022, 4-star hotels showed the strongest improvement. They increased both occupancy rates and average prices, resulting in a significantly higher RevPAR growth rate.

However, compared to 2019, 3-star hotels performed better than 4-star hotels in terms of maintaining occupancy and slightly higher average price growth.

If the focus is on increasing occupancy, 3-star hotels performed better. If the focus is on revenue growth (RevPAR), 4-star hotels performed better than the previous year. Both 3-star and 4-star hotels experienced fluctuations in occupancy rates during Oktoberfest, with neither category consistently outperforming the other across all dates.

 

Comparison of Munich's hotel performance with other major German cities celebrating Oktoberfest

During the Oktoberfest period, Munich hotels achieved an impressive overall performance, with an occupancy rate of 79.6%, an average price of €222.3, and a RevPAR of €176.9. Munich ranks third in terms of occupancy rate, behind Hamburg (85.70%) and Berlin (82.1%). However, it stands out clearly in terms of average price and RevPAR, putting it at the top of the rankings.

• Munich had a respectable occupancy rate of 79.6%, with the highest average price (€222.3) and RevPAR (€176.9) among these cities.
• Hamburg had the highest occupancy rate (85.7%) but a lower RevPAR (€110.6) than Munich.
• Berlin also has a high occupancy rate (82.1%) but a much lower RevPAR (€115.5) than Munich.
• Other cities such as Stuttgart, Hanover and Cologne have relatively lower occupancy rates and RevPARs than Munich.
• Düsseldorf had the lowest occupancy rate (55.9%) and the lowest RevPAR (€53.6) of the cities listed.

Compared to other major German cities, Munich stands out for its high occupancy rates and high average rates, resulting in a significant RevPAR. This clearly demonstrates the major impact of Oktoberfest on Munich's hotel industry, and that the city remains Germany's leading festival destination.

Hotel performance in the Munich Airport area

The overall performance during Oktoberfest in the Munich Airport area is reflected in an occupancy rate of 72.9%, an average price of €131.1 and a RevPAR of €95.6. These indicators show declines compared to 2022, with decreases of -1.6 points, -2.2%, and -2.2%, as well as substantial decreases of -17.6 points, -1.8%, and -20.9% compared to 2019.

Hotel performance in the Munich - Ost-Messe area

The overall cumulative performance during Oktoberfest for hotels in Munich - Ost-Messe was 73.0% occupancy, €174.4 average price and €127.4 RevPAR, with changes of +4.8 points, -5.0% and +1.7% compared with 2022 and -12.5 points, -1.9% and -16.2% compared with 2019.

Summer performance of hotels in Munich (July - August)

During the summer months in Munich (July - August), the average occupancy rate was 72.0%, with an average room rate of €102.1 and a RevPAR of €73.5.

• Compared to 2022 for the same period, occupancy rose slightly by 0.2 points, but room rates fell by 3.4%, resulting in a 3.2% fall in RevPAR.
• Compared with 2019 for the same period, the occupancy rate fell by 7.5 points, but average room rates rose by 16.0%, resulting in RevPAR growth of 5.0%.

Hotel performance in Munich in September

In September, hotel performance indicators were as follows: an occupancy rate of 74.0%, an average price of €185.6 and a RevPAR of €137.4.

• Compared with the same period in 2022, performance has improved. Occupancy increased by 1.3 points, room rates rose by 2.5%, resulting in substantial RevPAR growth of 4.3%.
• Compared to 2019, for the same September period, occupancy was down 7.5 points, but room rates were up 19.6%, resulting in strong RevPAR growth of 8.6%.

Conclusion

Oktoberfest 2023 in Munich made history by breaking attendance records and providing a significant boost to the hotel industry. The festival attracted a more diverse international audience than in previous years, consolidating its worldwide reputation. Occupancy rates averaged 79.6%, with notable peaks during the weekends of the event. Average prices also rose considerably, and RevPAR followed this upward trend, peaking on the closing weekend of the Oktoberfest. Compared to 2022, there has been a significant recovery. While occupancy rates are still struggling to surpass those of 2019, average prices and RevPAR have caught up overall. Oktoberfest remains an essential pillar of Munich's hotel industry, contributing to the city's prosperity, its international appeal, and its reputation as the destination of choice for lovers of beer and Bavarian culture.