Munich’s hotel inventory is expected to grow by 39 new properties and 7,397 rooms by 2020—a 15.4-percent increase to the market’s existing supply—according to STR’s AM:PM database.

The city’s hotel-room inventory has increased 11.3 percent since the end of 2015. Currently, the Munich market has 463 hotels and 47,880 rooms, making it the third-largest hotel market in Germany. Berlin and Frankfurt rank first and second with 73,211 rooms and 48,507 rooms, respectively.

Christian Strieder, STR’s country manager for Germany, Austria and Switzerland, said Munich’s performance has shifted in recent years amid significant supply growth.