Munich was one of the best-performing markets polled in May as the city hosted the UEFA 2012 Champions League Final, according to the latest HotStats survey by TRI Hospitality Consulting.
RevPAR in the German city grew 21.3% as the achieved average room rate in the city soared 23.7% to €160.58 (US$203.48). 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 (US$165.36).
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 in May to €73.46 (US$93.06), 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 (US$50.91) at a conversion of 31.4% of total revenue.
Düsseldorf tops in Europe
Düsseldorf, Germany, topped the European cities polled this month with huge year-on-year growth, according to TRI.
Hotels in the city thrived as its Messe Düsseldorf venue hosted the drupa print & publishing event, which takes place every four years and attracts approximately 40,000 visitors. The event powered a 22.8% increase in profit per room to €98.55 (US$124.84), equivalent to a conversion of 57.6% of total revenue.
The growth in profit per room in Düsseldorf was fuelled by a 21.2% increase in achieved average room rate, which contributed to year-on-year growth in RevPAR of 14.7% to €136.71 (US$173.18), which left the market approximately 85% ahead of the 12-month rolling average at €73.91 (US$93.63).