The Champions League Final poured €34 million more into the coffers of the Berlin hotel industry
Press Release: Great figures for the Berlin hotel industry
Berlin, 19 June 2015. It is undisputed that trade fairs and conventions are of great importance for the hotel industry. Fairmas has now analysed which effects sporting events have on local hotels. This influence is not always especially noteworthy. However, the example of the Champions League Final weekend shows how great it can be:
June is not the weakest month in Berlin. Because of the major tourist influx, the city’s hotels are very well booked, especially at the weekends. Yet the Champions League Final on 6 June 2015 led to an explosion in occupancy and in especially in the average room rate (ADR). Nearly 90 percent of Berlin’s hotel rooms were occupied throughout the weekend (Friday to Sunday), and the average room rate was €312 net. This means a 21% increase in occupancy of and an incredible 165% upturn in room rates compared to the June weekends of the last two years. According to Fairmas’ calculations, the Champions League Final weekend is expected to have pumped around €34 million in additional revenue into Berlin hotels’ coffers over the weekend around Saturday June 6. In comparison, the 2015 German Cup Final brought the Berlin hotels about €8 million in extra revenue.
Although the hoteliers in Berlin are very happy about this one-off source of revenue, it must not be forgotten that the Berlin hotel market is one of Europe’s most highly competitive ones, and that room rates remain far behind cities like London, Paris or Munich. Berlin, where the average room price was about €86 in 2014, lagged almost 50% behind London, where rooms were being let at an average of €165 (net) per night.
Fairmas Gesellschaft für Marktanalysen mbH
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