Euros 2024 a Record-Breaking Success for Hotels in Cologne, Germany
(10/07/24)
According to data published by CoStar, a leading provider of
analytics for the hotel industry, the 2024 UEFA European Football
Championship has been a record-breaking success for hotels in
Cologne, Germany.
Preliminary data shows that the city’s hotel industry recorded its highest
monthly ADR (average daily rate) and RevPAR (revenue per available
room) on record.
During the month of June 2024, hotels in Cologne
experienced average occupancy rates of 81.2%, a year-on-year
increase of 7.9%, an ADR of EUR 174.18, which represents a jump of
+35.5% y-o-y, and RevPAR of EUR141.47, +46.2% y-o-y.
Room at the Hyatt Regency Cologne
In addition to the all-time highs in monthly ADR
and RevPAR, occupancy was the highest for the market since
November 2019.
The market’s ADR reached EUR 274.57 on Saturday, 15
June, the night of a group stage match between Switzerland and
Hungary, the highest daily ADR level in the market since
October 2023.
The second highest ADR (EUR268.79) was recorded on
Wednesday, 19 June when Switzerland played against Scotland.
Occupancy reached a monthly high of 95.5% on
Tuesday, 4 June, the first night of The Tire Cologne trade fair.
The second highest level of 95.3% occurred during the
aforementioned Switzerland – Scotland match.
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