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São Paulo Leads Hotel Profitability Recovery in Latin America
STR | August 5, 2022
LONDON—Among key hotel markets in Latin America, São Paulo led in recovery of gross operating profit per available room (GOPPAR), according to STR’s June 2022 P&L data release. São Paulo’s June GOPPAR reached US$42.78, which was 145.4% of the pre-pandemic comparable. That level was down from May, however, when the market saw GOPPAR at US$50.01, which was 160% of the comparable 2019 level. Also reporting significant month-over-month improvement in the region, Rio posted a June GOPPAR of US$31.50. That level was 145% of the pre-pandemic comparable. Meanwhile, Lima’s GOPPAR was just 31% of the 2019 comparable, up from neg...
European Hotel Profit Tops 2019 Levels
HOTSTATS | August 5, 2022
It’s been a rollercoaster ride, but Europe’s hotels are now back to pre-pandemic profit levels, with gross operating profit per available room (GOPPAR) hitting €95.28 in June 2022, slightly higher than the same month in 2019, according to the latest data from HotStats. Since January, European hotel profit has taken off like a rocket ship, up 1,970%, and spurred by an increase in travel demand, lessened COVID restrictions and average daily rates that continue to exceed 2019 levels. In June, ADR in Europe was €36 higher on a nominal basis than in June 2019. Total revenue in Europe was a full €6 higher in June 2022 than in June 2...
STR: U.S. Hotel Profitability Reached 32-Month High in June
STR | August 2, 2022
HENDERSONVILLE, Tennessee—U.S. hotel gross operating profit per available room (GOPPAR) reached its highest level since October 2019, according to STR‘s June 2022 P&L data release. GOPPAR: US$91.23 TRevPAR: US$226.10 EBITDA PAR: US$69.53 LPAR (Labor Costs): US$68.40 “Each of the key bottom-line metrics increased from May due to a rise in room rates as well as improved revenue from F&B and groups,” said Joseph Rael, STR’s senior director of financial performance. “Profit margins have held strong the past 12 months but have been slightly reduced recently due to rising wages and costs. Hotels hav...
Dubai Hotels Achieve Profitability Levels Seven Times Higher Than 2019
STR | July 6, 2022
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 afte...
U.S. Hotel Profitability Lower in May but Above 2019 Levels for Third Consecutive Month
STR | July 6, 2022
HENDERSONVILLE, Tennessee—U.S. hotel gross operating profit per available room (GOPPAR) fell from the previous month, but surpassed the pre-pandemic comparable for a third consecutive month, according to STR‘s May 2022 P&L data release. GOPPAR: US$88.63 TRevPAR: US$219.58 EBITDA PAR: US$67.80 LPAR (Labor Costs): US$66.27 The EBITDA PAR level was also down from April. “After the top-line metrics showed mixed results in May, it wasn’t a surprise that the bottom-line metrics came in a bit lower,” said Raquel Ortiz, STR’s director of financial performance. “Regardless, each of the four key P&...
Sydney Hotels Led April Profitability Recovery in Asia Pacific
STR | June 6, 2022
LONDON—Among key hotel markets in the Asia Pacific region, Sydney’s gross operating profit per available room (GOPPAR) level came closest to its 2019 comparable, according to STR’s April 2022 P&L data release. After coming in at just 51% of 2019 GOPPAR levels in March, Sydney posted an April GOPPAR of US$52.08, which was 82% of the pre-pandemic comparable. Also reporting significant month-over-month improvement, Singapore posted an April GOPPAR of US$45.56. That level was 54% of the pre-pandemic comparable after the market had reached just 37% using the same comparison in March. Bangkok’s GOPPAR was 27% of the 2019 compar...
Europe’s Luxury Hotels Bounce Back From the Bottom
HotStats | June 2, 2022
Luxury hotels across Europe have made an about-face and are back to producing profit at the almost same rate as 2019, according to data from HotStats. It’s an extraordinary turn of events for a sector that saw its gross operating profit per available room (GOPPAR) plummet during the dark days of the global pandemic, hitting a historical low of-€43.21 in May 2020. Now, March 2022 GOPPAR of €66 is only €4 off its March 2019 number and, at €24.12 year-to-date, it is 187% higher than at the same period a year ago. It’s a striking comeback that is still not complete and more remarkable given the depths of where it came from. The ...
Despite Global Pressures, April Hotel Profit Up
HotStats | May 31, 2022
The higher cost for goods is not yet wrecking traveler appetite. Despite record gas prices, ballooning airfares and crippling inflation roiling the globe, hotel performance remained widely steady, if not getting better, in April, with increases in both the top and bottom line. In the U.S., April gross operating performance per available room (GOPPAR) hit $96.08, which was 92% back to where it was pre-pandemic. Accounting for the rise was a strong top line that featured both growth in occupancy and average daily rate, with the latter outpacing where it was in April 2019, $5 higher on a nominal basis. Total revenue per...
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