operating profit
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 ...
U.S. Hotel Profit Improved to 70% of 2019 Level, Labor Flat
STR | July 1, 2021
BROOMFIELD, Colorado—Gross operating profit for U.S. hotels reached 70% of the comparable 2019 level, according to STR‘s May 2021 monthly P&L data release. While demand, revenues and GOP continue to uptick, labor spending remained flat from the previous month at 64%. Each of the key profitability metrics, on a per-available-room basis, came in higher than any month since February 2020 except for labor. GOPPAR: US$37.30 TRevPAR: US$102.52 EBITDA PAR: US$22.54 LPAR (Labor Costs): US$30.96 “May was another step forward as more economic reopening and more demand pushed industry-wide profitability further upward,â...
