U.S. hotel gross operating profit per available room (GOPPAR) reached positive territory for the first time since February, according to STR‘s latest monthly P&L data release.
In a year-over-year comparison with July 2019, the industry reported the following:
- GOPPAR: -93.3% to US$5.74
- TRevPAR: -74.1% to US$60.04
- EBITDA PAR: -115.1% to US$-9.24
- LPAR (Labor Costs): -64.8% to US$28.46
The industry had registered negative GOPPAR values for four consecutive months: March (US$-2.10), April (US-$17.98), May (US$-10.26) and June (US$-5.89).
“As the industry inched closer to 50% occupancy, we saw continued incremental improvement in the subsequent profitability metrics,” said Raquel Ortiz, STR’s assistant director of financial performance. “We are of course nowhere near pre-pandemic levels, but there were additional encouraging signs in positive GOPPAR for full-service hotels and six major markets.”
MM&E