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U.S. HOTEL REVENUE and profitability saw a rise in October, propelled by increased group demand across the top 25 markets, according to CoStar's October 2023 Profit & Loss data. Meanwhile, the U.S. hospitality industry also witnessed its largest year-over-year increases in GOPPAR and TRevPAR since March 2023. In October, GOPPAR reached $97.45, marking a 3.7 percent increase from the same month in 2022. TRevPAR stood at $240.74, indicating a 4 percent increase, whereas EBITDA PAR amounted to $69.60, down 1.2 percent from September 2022. Labor costs notably rose to $74.48, reflecting a 5.9 percent increase. "The top 25 markets have demonstrated an 11 percent year-to-date increase in GOPPAR, surpassing a 14 percent rise in labor costs," said Audrey Kallman, research analyst at STR. "This double-digit GOPPAR growth is over 10 times the level observed in all other markets. New York City, a prominent business-centric market, spearheaded growth in the metric across major markets both on a year-to-date and monthly basis."

AAHOA PAST CHAIRMAN Manhar P. "MP" Rama passed away Sunday at age 74. Rama was a co-founder with his brothers of JHM Hotels that later became Auro Hotels in Greenville, South Carolina. Rama was born in Africa and raised in India, according to Auro Hotels. He completed high school in Gurukul Supa, Navsari, and graduated from M.S. University of Baroda with a degree in civil engineering. In 1973, he came to the U.S. and attended California State Polytechnic University in Pomona, California, where he earned a master's degree in engineering. He worked with the city of Pomona before entering the hotel business. "In the teachings of Sri Aurobindo, we learn that life is a journey of the soul, and my brother, M.P., lived this journey with unwavering devotion, love, and integrity," said HP Rama, Founder of JHM/Auro Hotels. "His contributions to our family and the hospitality industry are immeasurable. We will honor his memory by continuing to embody the values he held dear. M.P.'s spirit will remain a guiding light for all of us."