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.”
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.