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 comparable, up from 13% in March.
While improved, Hong Kong’s GOPPAR remained in negative territory for a fourth straight month. Beijing was the only key market in the Asia Pacific region to show lower profitability from the prior month.
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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
