Amsterdam’s hotel industry showed event-driven improvement in monthly performance, according to preliminary August 2023 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
August 2023 (year-over-year % change):
• Occupancy: 80.0% (+5.2%)
• Average daily rate (ADR): EUR180.45 (+18.9%)
• Revenue per available room (RevPAR): EUR144.40 (+25.0%)
The market’s hotel performance was helped by several events, including Pride Amsterdam, the 46th Congress of the European Society of Cardiology (ESC) and the Dutch Grand Prix 2023.
Daily data shows the highest occupancy level reported on Saturday, 26 August (at 93.1%), the night of the Dutch Grand Prix 2023 qualifying round. Saturday, 12 August and Friday, 25 August (the first night of ESC Congress 2023) were each at 90.1%. Amsterdam’s daily occupancy levels remained above the 70.0% mark throughout the month except for three days.