- Cologne’s hotel industry experienced record-breaking average daily rates (ADR) and revenue per available room (RevPAR) in October, driven by the Anuga food fair.
- The city saw its highest monthly occupancy since 2019, with notable peaks in early October.
Cologne’s hotel industry experienced an unprecedented surge in room rates and occupancy levels this October, largely due to the bustling Anuga food fair. Preliminary data from CoStar, a prominent real estate information provider, revealed that the city’s average daily rate (ADR) and revenue per available room (RevPAR) reached all-time highs.
In October, Cologne’s hotel occupancy climbed to 80.8%, marking an 11.7% increase compared to the previous year. The ADR soared to EUR189.43, a remarkable 55.6% rise, while RevPAR jumped by 73.9% to EUR153.06. These figures represent the highest monthly occupancy rates in Cologne since November 2019.
The peak of this upward trend occurred on Monday, October 6th, when daily occupancy reached an impressive 98.5%, and RevPAR stood at EUR469.33. The day before, on Sunday, October 5th, ADR peaked at EUR484.12, setting a new record for the market. Both days marked significant milestones, with occupancy levels on October 6th being the highest for a single day since October 2015.
Throughout the month, Cologne’s hotel occupancy remained robust, staying above the 70% mark for all but six days. This surge underscores the substantial impact that major events, such as the Anuga food fair, can have on the local hospitality industry, driving demand and pushing hotel rates to new heights.
