WASHINGTON – 10 July 2024 – Pushed by the 2024 UEFA European Football Championship, Cologne’s hotel industry recorded its highest monthly average daily rate (ADR) and revenue per available room (RevPAR) on record, according to June preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
June 2024 (year-over-year % change):
- Occupancy: 81.2% (+7.9%)
- ADR: EUR174.18 (+35.5%)
- RevPAR: EUR141.47 (+46.2%)
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 EUR274.57 on Saturday, 15 June, the night of a group stage match between Switzerland and Hungary. This was 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 squared off with Scotland.
Occupancy reached a monthly high (95.5%) on Tuesday, 4 June, the first night of The Tire Cologne trade fair. The second highest level (95.3%) occurred during the aforementioned Switzerland and Scotland match.
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Additional Performance Data
CoStar’s world-leading hotel performance sample comprises 82,000 properties and 10.7 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.
