Last night a 4 star hotel room in Frankfurt averaged EUR62.8; last week, Berlin’s luxury hotels experienced 9.3% lower occupancy compared to last year.Accurate, up-to-date and valuable German Hotel performance data such as this is now being provided by a newly announced collaboration between two leading data companies, The Bench and Fairmas.
From its offices in London, The Bench has joined forces with Fairmas of Berlin to create the most extensive database of German hotel performance to date. Together they share data on nearly 600 hotels in Germany, and provide this in a collection of market reports that start from $500.
Hotel performance figures are a barometer for the tourism and hospitality sectors globally. It provides data that senior management can use to make sound strategic and tactical decisions and you can be sure that Blackstone group performed their due diligence before paying $26 billion for Hilton Hotels this month.
Hotel investors and developers rely on the accuracy of reports such as those supplied by The Bench to verify acquisition and new project decisions. The ability to analyse specific markets in great detail can lead to a deal or no-deal situation.
‘We consider the agreement with Fairmas an important step forward in offering comprehensive market knowledge to businesses and potential investors in Germany.’ comments James Chappell, Managing Director of The Bench.
‘By consolidating our two performance databases The Bench and Fairmas now provide an unrivalled daily, weekly and monthly performance benchmarking service in Germany, enabling access to data that can aid decision-making as never before.’
Hoteliers and front desk staff may be surprised if guests walk in and insist they will not pay above last night’s average rate. We think it just goes to show that knowledge is power.