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HotStats’ COO Talks Profitability — Today and Tomorrow
HotStats | June 9, 2022
Hotel demand is high, rates are up, but what does it mean for the full spectrum of the profit-and-loss statement. The global hospitality industry is still facing down operational headwinds, and Michael Grove, COO of HotStats, outlined those challenges during a panel session at the International Hospitality Investment Forum (IHIF) titled, “Decoding the Data.” Grove’s presentation, which you can watch in full below, touched on myriad data points and honed in on four main issues impacting the hotel industry’s recovery from the depth of the pandemic: 1) the labour challenge 2) the return of corporate, group and conference travel 3) the...
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...
LAC Profit Pops in Q1 Amid Enduring COVID-19, Inflation Worry
HotStats | May 24, 2022
If it’s not one thing, it’s another—or two or three. The Latin America and Caribbean region is not alone in the hardship exacted by COVID-19 and now added detriments, including high inflation, rising interest rates and labor costs, but the region’s hotels are showing resilience. Like the rest of the world, COVID is not through with the LAC region. As of May 2022, LAC had nearly 1.7 million deaths, which amounts to more than 27% of deaths worldwide, according to the Pan American Health Organization (PAHO). Peru had the highest recorded COVID-19 mortality rate in the region, followed by Brazil, Chile, Argentina, Colombia and Trinidad...
First-Quarter 2022 Hotel Performance Ends on High Note
HotStats | April 28, 2022
Beware the ides of March. But for the global hotel industry, the month was anything but a tragedy. First-quarter hotel performance ended strong with March profit surging across most global regions, a sign of stronger revenues, better conversion rates and new worries over a COVID upsurge not discouraging would-be travelers. European GOPPAR hit €35.97, the highest the number has reached since it peaked in October 2021, though still around €12 lower than March 2019. After GOPPAR dropped into negative territory in January, it’s now up 229% YTD compared to the same time in 2021. Feeding into the increase in GOPPAR was a concurrent l...
For Hotels, Revenue Is the Sprint, Profit Is the Marathon
HotStats | April 18, 2022
Usain Bolt is a sprint legend. At 9.58 seconds, he holds the world record in the 100 meters, making him the fastest human to ever put on running shoes and garnering the well-deserved nickname “Lightning Bolt.” The short time it takes to go 100 meters differs vastly from the longer time it takes to run a marathon. The 26.2-mile stretch is typically completed in a little more than two hours by champion distance runners. In the hotel industry, revenue is a sprint and profit is a marathon. For a runner like Bolt, all that matters is running fast—the revenue. So when the gun sounds, all he cares about is getting to the finish line as q...
Rating Rate: How Hoteliers Made the Right Decisions This Time Around
HotStats | April 7, 2022
One of the bright spots for the hotel industry amid the pandemic was the ability to hold—if not drive—average daily rate, particularly in leisure-led, drive-to markets. It is something that evaded hoteliers during prior calamities, including 9/11 and the Global Financial Crisis of 2008, when hotels slashed rates in an attempt to win back demand. It proved a faulty strategy. But understandable: The knee-jerk, common-sense reaction to depletion of demand is to do whatever it takes to offset that reduction. That means filling rooms by any means and the biggest lever hoteliers have at their disposal is rate. The problem with that move is t...
Recent Expense Rise Presents Threat to Hotel Profit
HotStats | March 30, 2022
February was a stronger month all around for the global hotel industry, but escalating line item expenses could derail what’s already a fragile profit rebound. In the U.S., gross operating profit per available room (GOPPAR) hit $65.98 for the month, more than $40 higher than January and the highest it’s been since October. It’s still well below pre-pandemic profit, which was recorded at more than $90 in February 2019. Ever since profit fell dramatically in April 2020, well into negative territory, U.S. hotels have steadily climbed back, but the drive back to normal GOPPAR levels has come in fits and starts. The precipitous drop in...
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