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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...
Hotels Seek Out the Ordinary in 2022
HotStats | March 7, 2022
Hoteliers appreciate predictability. It aids in setting labor schedules, revenue management optimization, food cost containment and as a hedge against a variety of other line items impacting hotel operations on a daily, weekly, monthly and yearly basis. The past two years have been anything but formulaic and the crisis in Ukraine could keep it that way. Hotels, at the mercy of the pandemic, have been bounced to and fro like a dinghy in the middle of a sea storm. Calmer waters may soon prevail, but data points to a recovery that is anything but gangbuster. Europe Alarm In a worrisome sign, Europe profit in January fell into negative t...
HotStats Releases Global Hotel Data Performance Review 2021
HotStats | February 28, 2022
LONDON, UK — February 28, 2022 — HotStats, the global leader in monthly profit and loss data benchmarking, has unveiled the findings of its “Profit Matters Global Hotel Performance Review 2021.” The report, accessible here, covers full-year data on items inclusive of revenue, departmental expenses, payroll breakdown and profitability by asset class, along with in-depth regional commentary that adds context around the numbers and looks forward into 2022 and beyond. This year, HotStats partnered with the IHG Owners Association and HAMA Europe for timely insight from its members. “The last two years have been tumultuo...
The Pandemic Has Been Tough on Luxury Hotels. The Upside Is Great.
HotStats | February 22, 2022
There are a host of elements that impact luxury hotel performance. The segment relies on a healthy mix of leisure and corporate travel—spendy families paying top-dollar room rates and the C-suite on healthy per diems. Above all, the luxury hotel segment relies on stability, something not indulged over the past two years. It’s been a protracted pandemic to be sure, and just as the world appeared to be rounding the corner on the Delta variant, along came Omicron—a rowdy interloper arriving to a party all hoped was winding down. And though the intrusion was noisy at first, Omicron could potentially be more insipid than insidious. Des...
Regularity Marks Year-End Global Hotel Performance
HotStats | February 2, 2022
In a year full of abnormality, 2021 ended on a more settled note. The global hotel industry’s climb back to profitability has not been easy, but it trudged back and, despite a dearth lack of corporate and group travel, ended 2021 almost back to 2019 levels—the recognized baseline of recovery. Last year was an indication that travel is not definitionally discretionary. Despite a pandemic, the willingness to still “get out there” was fundamental to life. Consider that throughout the pandemic, transient volume mix remained buoyant, succoring hotels that lost much or all of their business from other segments. Though December 2021...
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