According to 2022 data from hotel industry market data company STR, STR's full-year P&L data has shown that hotel profit recovery in the major global markets last year was led by Miami and Qatar.
Gross operating profit per available room (GOPPAR) exceeded pre-COVID-19 pandemic 2019 levels, reaching 155% of the 2019 comparable in Miami, and 152% in Qatar, according to a statement published on STR.com.
Key Market Outliers By Each Region
According to the statement published on STR.com, in Europe, Paris's GOPPAR (US$173.02) was 123% of the comparable level in 2019, London's (US$105.17) was 88% and Berlin's (US$34.67) was 60%.
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In the the Middle East, after Qatar, Dubai's GOPAR (US$132.68) was 140% of the comparable level in 2019, while Oman had the lowest recovery at 78% of 2019.
In Asia Pacific, New Delhi (US$51.00)'s GOPAR was 100% of its the comparable level in 2019, Singapore's (US$83.57) was 87% and Bali's (US$49.37) was 81%.
In North America, after Miami, Toronto’s GOPPAR (US$88.03) was 100% of the comparable level in 2019 and San Francisco's (US$50.86) was furthest away from the comparable level in 2019 at 41%.
Finally, in South America, Bogota's GOPPAR (US$36.83) was 106% of the comparable level in 2019, Rio de Janeiro's (US$17.17) was 71% and Lima's (US$5.74) was 14%.
Read More: ADR And RevPAR Were Up In Europe In 2022, Compared To Pre-Pandemic 2019, According To STR
© 2023 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.