Facebook Instagram LinkedIn
    • About Us
      • About MEET® Magazines
    List My Business        Advertise
    MEET® Family of Publications
    • Home
    • Subscribe
    • Magazines
      • MEET® Missouri
      • MEET® Kansas
      • MEET® Med
    • Articles By Topic
    • Digital Flipbooks
    • Upcoming Events
    ➤ Find Suppliers
    0 Shopping Cart
    MEET® Family of Publications
    Home»MEET Kansas Misc.»Kansas Meeting News»U.S. Hotel Profits Fell 116.9% in April
    Kansas Meeting News

    U.S. Hotel Profits Fell 116.9% in April

    The MEET® Family of PublicationsBy The MEET® Family of PublicationsMay 29, 2020Updated:April 15, 2021No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    3b29e844 5263 4205 8d8d 3cfc3d1ecbe8 e1591191669879
    Share
    Facebook Twitter LinkedIn Pinterest Email

    U.S. hotel gross operating profit per available room fell 116.9% during April 2020, according to the latest monthly P&L data release from STR.

    In a year-over-year comparison with April 2019, the industry reported the following:

    • GOPPAR: -116.9% to US-$17.98
    • TRevPAR: -92.9% to US$17.39
    • EBIDTA PAR: -140.2% to US-$32.30
    • LPAR (Labor Costs): -72.8% to US$20.80

    “Whereas only the later portion of March was affected, April was the country’s first full month in the COVID-19 world, and the impact on U.S. hotel profitability was historic,” said Joseph Rael, STR’s senior director of financial performance. “As we have reported, occupancy levels hit the floor near the middle of the month, leaving many properties positioned to lose money by keeping their doors open. That led to more than 5,100 temporary closures around the country.”

    Among top markets, Houston reported the steepest year-over-year GOPPAR decline (-135.3%), followed by Chicago (-134.6%) and San Francisco/San Mateo (-133.6%).

    At a class level, luxury properties saw the worst decrease in GOPPAR (-124.5%).

    “As we’ve noted in our weekly performance releases, occupancy and ADR levels have trended upward over the last six weeks into late May,” Rael said. “It will be interesting to monitor how much revenue outside of room sales will come in when we process profitability metrics next month.”

    Full April profitability slides are available HERE. Industry stakeholders interested in Monthly P&L participation should contact MonthlyPnL@STR.com. Those interested in subscribing to soon-to-be released reports should contact their account manager or info@STR.com.

    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

    MK

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleEcho Bluff is Now Taking Reservations for Corporate Events
    Next Article U.S. Hotel Results for the Third Week of May
    The MEET® Family of Publications
    • Website

    The MEET® Family of Publications produces regional and national publications that keep corporate, association, medical, education, independent, and religious meeting and event planners informed about relevant industry suppliers, news, tech innovations, and resources that impact and influence how and where they plan their upcoming company function(s).

    Related Posts

    MEET Kansas

    November 29, 2022

    87% of Surveyed Hotels Report Staffing Shortages

    October 7, 2022

    Floods – Are you Prepared?

    September 30, 2022

    Comments are closed.

    For 20+ years, The MEETⓇ Family of Publications has produced regional and national magazines that has kept corporate, association, medical, education, independent, and religious meeting and event planners informed about relevant vendors, industry news, tech innovations, and resources that impact and influence how and where they plan their group business.

    Latest Industry Insights
    • Twist and Shout! Two Fundraisers for Two Historic Sappington Houses
    • Survey: Most Americans More Likely to Stay in Hotels on Vacation This Summer vs. Last
    • How AI Tools Can Enhance the Hospitality Industry
    • 85 Percent of Exhibitors Experiencing Cost Issues in Q1 2023
    • Historic Saint Louis presents “Landscapes of Summertime Past”
    Quick Links
    • Home
    • Subscribe
    • Upcoming Events
    Our Magazines
    • MEET® Missouri
    • MEET® Kansas
    • MEET® Med
    More Resources
    • Articles By Topic
    • Digital Flipbooks
    • Online Resource Directory
    © 2023 MEET® Family of Publications. All rights reserved. Website managed and developed by PC40

    Type above and press Enter to search. Press Esc to cancel.