STR Reveals Markets That Led Hotel Profit Recovery Last Year
According to the newly-published full-year P&L data release from hotel industry market data company STR, Miami and Dubai were the leading global markets for hotel profit recovery last year, with the former city's gross operating profit per available room (GOPPAR) beating pre-COVID-19 pandemic 2019 levels by 14 percentage points and the latter city reaching 95% of its 2019 comparable level.
In a statement published on its website, STR said that Moscow's GOPPAR was 80% of its comparable 2019 level at US$38.88, while Paris's was 33% at US$60.00, and Amsterdam's was 10% at US$10.53.
Dubai's GOPPAR was 95% of its comparable 2019 level at US$89.68, while Qatar's was 94% at US$42.07, and Oman was the only market to show a negative GOPPAR level, being 107% below its 2019 comparable level at -US$2.77.
Shanghai's GOPPAR was 75% of its 2019 comparable level at US$29.67, while followed by Beijing's was 38% at US$19.33, and Bangkok's GOPPAR level was 122% below its 2019 comparable level at -US$12.24.
Miami's GOPPAR was 114% of its comparable 2019 level at US$116.81, while Tampa's was 92% at US$76.51, and San Francisco/San Mateo's was 1% at US$1.78, which made it the furthest away from its 2019 comparable level.
Rio de Janeiro's GOPPAR was 49% of its 2019 comparable level at US$11.66, while São Paulo's was 27% at US$7.06, and Lima's was 16% at US$6.53, according to STR's statement.
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