LONDON—Among key hotel markets in the Middle East, Dubai’s gross operating profit per available room (GOPPAR) came in seven times higher than the 2019 comparable, according to STR’s May 2022 P&L data release.
Helped by strong international arrival numbers, as well as an earlier Ramadan, Dubai’s May GOPPAR reached US$115.37. That level was 776% of the pre-pandemic comparable. Just a month earlier during Ramadan, the market was at 79% of 2019 GOPPAR.
Also reporting significant month-over-month improvement in the region, Qatar posted a May GOPPAR of US$60.87. That level was 466% of the pre-pandemic comparable after the market had fallen into negative territory using the same comparison in April. Saudi Arabia’s GOPPAR was just 39% of the 2019 comparable, down from 325% in March.
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Key profitability metrics:
TRevPAR – Total revenue per available room
GOPPAR – Gross operating profit per available room
EBITDA – Earnings before interest, income tax, depreciation, and amortization
LPAR – Total labor costs per available room