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GOPPAR FOR U.S. hotels in February exceeded the levels of the pre-pandemic comparable time period and was the highest since October 2022, according to STR's February 2023 Profit & Loss data. EBITDA was the only key bottom-line metric on a per-available-room basis to come in lower than February 2019, STR said in a statement. GOPPAR reached $77.37 for the month, up 1.6 percent over the same month in 2019, TRevPAR stood at $217.20, up 3.7 percent, and EBITDA PAR was $51.63, down 0.6 percent against February 2019. Labor costs were $73.70, a 2.9 percent increase. "The profit-and-loss metrics followed typical industry trends, improving from the prior month," said Raquel Ortiz, STR's director of financial performance. "Both GOPPAR and GOP margins were the highest since last fall, while profit margins came in just one percentage point below 2019. Profit margins for limited-service hotels are further behind in recovery than full service, likely due to increasing labor costs that bear heavier weight on the bottom line." "An increase in top-line group demand is beginning to show in the bottom line, as catering and banquet revenues are inching closer to 2019 levels and meeting space rentals and services charges surpassed that threshold. On a per-operating-room basis, nearly all F&B revenues outpaced the pre-pandemic comparables," Ortiz added. Of the major markets, 10 realized both GOPPAR and TRevPAR levels higher than the 2019 comparables, the statement said. "February was a slower month for markets that are more dependent on groups and conventions, such as Atlanta, San Francisco and Minneapolis," Ortiz further said. "Warmer markets have remained at the top, with Phoenix showing the highest TRevPAR recovery and second highest GOPPAR recovery for the month, helped by peak season and Super Bowl LVII."

ADR FOR U.S. hotels was the highest in February for any month since August 2021, according to STR. The U.S. hotel industry reported higher performance during the month from the month before. Occupancy was 56.9 percent for February, up from 47.8 percent in January and down 8.2 percent compared to same period in 2019. ADR was $137.39 for the month, increased from $123.51 the prior month and up 6.8 percent from the same month two years ago. RevPAR was $78.24, up from $58.98 in January and down 1.9 percent from two years ago. The February ADR level was roughly 5 percent below the 2019 level when adjusted for inflation, the report said.

GOPPAR OF U.S. hotels hit $65.98 in February, its highest point since October last year and more than $40 more than in January, but down from $90 in February 2019, according to HotStats. However, a rise in expenses could derail a profit rebound, the data analyzing firm said. The payroll expense of U.S. hotels was up to $66.60 per available room in February, highest since the inception of the pandemic, according to HotStats. Though payroll is up 192 percent from its lowest point during the pandemic, it is still down $30 when compared to pre-pandemic numbers. Factors such as inflation, supply chain problems and war in Ukraine are driving costs up. Expense on utilities on a PAR basis are already back to pre-pandemic levels, HotStats said.

ADR GROWTH FOR U.S. extended-stay hotels reached a record high in February, according to hotel investment advisors The Highland Group. Owing to this, the segment saw record high demand and monthly RevPAR up by more than 40 percent during the month compared to a year ago. During the month, occupancy growth was also significant with extended-stay hotel's occupancy premium compared to the overall hotel industry staying well above its long-term average. The 3.1 percent increase in extended-stay room supply in February is the fifth consecutive month of 4 percent or lower supply growth, according to "U.S. Extended-Stay Hotels Bulletin: February 2022" report by Highland Group. It suggested that mid-price and upscale supply increases should be well below pre-pandemic levels during the near term, the report added.

MONITORING GOPPAR PERFORMANCE allows hoteliers to make smart decisions about running their business as they consider all revenue streams and cost variables, according to HotStats. The focus should be on maximizing profit rather than just increasing revenue. GOPPAR is calculated by taking total revenue, subtracting total departmental and undistributed expenses, then dividing by the total number of available rooms, according to a blog post by HotStats. GOPPAR index measurement gives guidance about why a hotel is either outperforming or underperforming its direct competitors, allowing a hotel owner to make critical changes to improve business, it said. In February, GOPPAR for U.S. hotels was down 33 percent compared to February 2019, whereas RevPAR was down 26 percent for the month. It provided evidence that costs were eating farther into the P&L in February.

THE BAIRD/STR Hotel Stock Index was down 2.5 percent in February 2023 as the focus turned to earnings and initial 2023 outlooks, according to STR. Investors' confidence also was boosted some by strong fourth quarter results and rising demand. During the month, the Baird/STR Index surpassed both the S&P 500, down 2.6 percent and the MSCI US REIT Index, fell 4.9 percent, STR said in a report. Meanwhile, the index jumped 16.4 percent in January. According to the STR, the Hotel Brand sub-index decreased 1.2 percent from January to 10,219, while the Hotel REIT sub-index dropped 7 percent to 1,130. "Hotel stocks, just like the broader market, pulled back in February as the focus turned to earnings and initial 2023 outlooks," said Michael Bellisario, senior hotel research analyst and director at Baird. "The global hotel brand stocks, while down slightly during the month, outperformed the S&P 500 on the heels on strong fourth quarter earnings reports and guidance that matched expectations; hotel REITs were weaker and relatively underperformed as investors focused on somewhat mixed fourth quarter earnings reports and 2023 guidance that embedded heightened expense pressures and outsized renovation disruption."

U.S. HOTEL PERFORMANCE rose in the second week of February compared to the previous week, according to CoStar. However, year-over-year comparisons remained mixed. Key metrics, such as occupancy, ADR, and RevPAR, all showed increases in the second week of February compared to the preceding week. Occupancy rose to 56.2 percent for the week ending Feb. 10, from the previous week's 55.2 percent, reflecting a 2.7 percent year-over-year decrease. ADR increased to $160.96 from $147.99 the prior week, marking a 6.8 percent rise compared to the previous year. RevPAR also increased to $90.4 from $81.69 the prior week, reflecting a 3.9 percent increase compared to the corresponding period in 2023. Among the top 25 markets, Oahu Island saw the largest year-over-year increases, with occupancy rising 8 percent to 82.9 percent.

U.S. HOTEL PERFORMANCE decreased slightly in the first week of February from the previous week, while year-over-year comparisons remained mixed, according to CoStar. Key metrics, including occupancy, ADR, and RevPAR, all declined in the first week of February compared to the previous week. Occupancy dipped slightly to 55.2 percent for the week ending Feb. 3, from the previous week's 56.2 percent, reflecting a 0.1 percent decrease year-over-year. ADR decreased to $147.99 from the prior week's $149.76, marking a 1.9 percent increase compared to the previous year. RevPAR declined to $81.69 from the prior week's $84.13, reflecting a 1.7 percent increase compared to the corresponding period in 2023. Among the top 25 markets, Seattle saw the largest year-over-year increases, with occupancy rising 19.3 percent to 60.1 percent and RevPAR increasing by 27.5 percent to $89.11.

EXTENDED-STAY ROOM SUPPLY increased by 1.8 percent in February due to it being a leap year, consistent with the average monthly increase observed over the last two years, according to The Highland Group. February marked 29 consecutive months of 4 percent or less supply growth. Additionally, the change in supply has remained below 2 percent for more than two years, with both metrics significantly falling below the long-term average. The 18.8 percent surge in economy extended-stay supply, along with a modest increase in mid-price segment rooms, is largely attributed to conversions, The Highland Group said. Meanwhile, new construction in the economy segment is estimated at around 3 percent of open rooms compared to a year ago. 2024 first half supply trends Supply change comparisons have been affected by rebranding, segment realignment in The Highland Group's database, and the de-flagging of hotels failing to meet brand standards, along with sales to multi-family apartment companies and municipalities, the report said. This trend is expected to persist into the first half of 2024, particularly with older extended-stay hotels still available on the market.

U.S. HOTEL PERFORMANCE increased in the final week of February from the previous week, according to STR. Occupancy saw a new high during the week. Occupancy was 64.2 percent for the week ending Feb. 25, up from 60.8 percent from the third week of February and 1.5 percent below the comparable week in 2019. ADR reached $156.51, up from $156.10 the week before and 22.2 percent over the same month in 2019. RevPAR stood at $100.43, up from $87.21 the previous week and 20.3 percent rise over 2019. The U.S. weekly occupancy level was the highest since the week ending Nov. 19, 2022, the STR data showed. Among the Top 25 Markets, Orlando saw the highest occupancy increase over 2019, up 6.2 percent to 86.9 percent, while Las Vegas reported the highest ADR, up 49.5 percent to $186.96 and RevPAR rose 51.8 percent to $148.61 over 2019.

U.S. HOTEL PERFORMANCE displayed mixed outcomes in the fourth week of February compared to the previous week, according to CoStar. While occupancy and RevPAR experienced a modest increase, ADR declined from the prior week. Occupancy increased to 62 percent for the week ending Feb. 24, up from the previous week's 59.2 percent, marking a 3.3 percent year-over-year decline. ADR decreased to $156.62 from $162.24 the prior week, reflecting a 0.3 percent increase compared to the previous year. RevPAR rose to $97.12 from $96.10 the prior week, indicating a 2.9 percent decrease compared to the same period in 2023. Among the top 25 markets, Minneapolis reported the highest year-over-year occupancy increase, rising by 4.5 percent to reach 47.8 percent.

Johannesburg is hosting the Dance Umbrella Contemporary Dance Festival for the avid dance lovers on 17th of February. Flights4johannesburg offers you Johannesburg Flights from all U.K airports along with packages. Cheap flights to Johannesburg from London both direct and indirect are available with us. We endeavor to provide you the best deals on flights from uk to Johannesburg, you c an even be your own travel agent on our website and book form the comfort of your own computer and receive everything by email, if you are however more comfortable talking on the phone then our agents will be more than eager to help you out to get you a package or cheap flight to Johannesburg from London.

Accommodation in Cape Town is as dynamic and vast as the city itself from the budgeted dormitories to the luxury hotels Cape Town has everything from a budget to a lavish traveler. Climate in Cape Town is moderate as it gets summers from Mid October to mid February, autumn from mid February to April, winters from May to July and spring from August to mid October. Enjoy your stay in Capetown with exclusive offers from Holidaymood on Cheap Flight to Cape Town.

Join us for a trip to the World Heritage sites St Lucia or Kosi Bay during the Turtle Nesting Season (running from 1st November 2013 to 28 February 2014) Includes: Transfer Entrance Fees Permits Approved Guide Dinner, Bed and Breakfast TURTLE WALK 2 DAYS 1 NIGHT From November to February Day 1.ST LUCIA BOAT RIDE - KOSI BAY We travel northwards trough the picturesque Zululand to St.

Join us for a trip to the World Heritage sites St Lucia or Kosi Bay during the Turtle Nesting Season (running from 1st November 2013 to 28 February 2014) Includes: Transfer Entrance Fees Permits Approved Guide Dinner, Bed and Breakfast TURTLE WALK 2 DAYS 1 NIGHT From November to February Day 1.ST LUCIA BOAT RIDE - KOSI BAY We travel northwards trough the picturesque Zululand to St.

Get climate condition of India in the month of February if You are looking to visit India in upcoming days then you must know about all india weather month wise get a collection of weather condition report

The Annual Flamenco Festival is set to commemorate its 15th anniversary. To be held at Sadler's Wells, near The Edward Hotel Paddington, the said event will take place from Wednesday 14 February up to Sunday 25 February.

THE OMICRON VARIANT of COVID-19 has come and, for now, gone, and U.S. hotels are recovering quickly according to STR. The recovery does come after a slight dip in GOPPAR. That dip was a $20 decline in January, but GOPPAR rose to $58.88 in February, the highest since October, according to STR's P&L report for the month. TRevPAR for the month was $169.77, EBITDA PAR was $39.29 and labor costs were $56.63. All also were increases over January. In 2021, U.S. hotel profits reached 52 percent of pre-pandemic levels, according to STR. "Following trends in top-line performance, U.S. profitability levels are recovering more quickly from Omicron than with previous variants," said Raquel Ortiz, STR's director of financial performance. "February GOPPAR was roughly 77 percent of the 2019 comparable, but independents (108 percent), luxury (94 percent) and midscale (88 percent) chains were far above the national average. The upper upscale (67 percent) and upscale (70 percent) segments are where the largest deficits persisted.

THE LEISURE AND hospitality sector saw some job growth in December, according to the Bureau of Labor Statistics' December employment report. Not enough, however, according to the U.S. Travel Association, meaning more federal aid is needed. The sector added 53,000 jobs during the month, according to the BLS data. The overall economy added 199,000 jobs. "Leisure and hospitality has added 2.6 million jobs in 2021, but employment in the industry is down by 1.2 million, or 7.2 percent, since February 2020," the report said. "Employment in food services and drinking places rose by 43,000 in December but is down by 653,000 since February 2020." However, the report indicates that the recovery is uneven, said Tori Emerson Barnes, USTA's executive vice president of public affairs and policy, in a statement. December's performance was the second-worst since January 2021, she said. "The small gains made are not enough to propel the sector toward a larger recovery, as more than 7 percent of all L&H jobs remain lost compared to just 2 percent for the rest of the U.S. economy," Barnes said. "As the spread of the omicron variant continues to impact travel, there remains a pressing need for Congress to provide additional federal relief and stabilizing policies that will enable the return of business travel, professional meetings and events, and international inbound travel."

THE FIRST TWO months of 2022 saw up and down performance by Baird/STR Hotel Stock Index, according to STR. In January, the index sank, then in February it rose again, regaining lost ground. In January, the index dropped 3.8 percent after rising 12.7 percent in December. The index still outperformed both the S&P 500, which dropped 5.3 percent that month, and the MSCI US REIT Index, which dropped 7 percent. The hotel brand sub-index fell 4.3 percent from December and the hotel REIT sub-index declined 2.2 percent. "Despite the significant stock market volatility to start the year, both the hotel brands and hotel REITs outperformed their respective benchmarks in January, which continued the momentum from the end of 2021," Michael Bellisario, senior hotel research analyst and director at Baird, said at that time. "Positively, Omicron-related concerns are slowly subsiding, and investors are looking forward again. At the same time, leisure demand remains robust, optimism regarding a more normalized travel environment is building, and the broader growth-to-value rotation has benefitted hotel stocks as inflation pressures remain front and center."

THE BAIRD/STR Hotel Stock Index rose in March, continuing a trend from the previous month. Still, continued growth remains at risk by factors such as inflation and political unrest. The index increased 2.2 percent in March after rising 4.1 percent in February. It rose 2.4 percent year to date through the first three months of 2022. However, Baird/STR fell behind both the S&P 500, up 3.6 percent in March, and the MSCI US REIT Index, which rose 5.9 percent. The hotel brand sub-index rose 1.4 percent from February, while the Hotel REIT sub-index jumped 5.1 percent. "Hotel stocks increased in March but underperformed their benchmarks as stock market volatility eased and geopolitical concerns did not worsen," said Michael Bellisario, senior hotel research analyst and director at Baird. "Underlying hotel fundamentals continued to improve in March, and the outlook appears more favorable today than just one month ago despite all of the background noise in the stock market and with interest rates on the rise. Higher gas prices and heightened concerns about a slower growth backdrop have been topical with investors lately, but broader travel momentum and pent-up demand should keep the lodging recovery going over the near term, in our opinion."