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THE PROFITABILITY OF U.S. hotels was above 2019 level for the third consecutive month in May, but was lower compared to April, according to STR. The GOPPAR and EBITDA PAR levels were down in May compared to the month before. GOPPAR was $88.63 for the month, down from $90.96 reported in April. In March, GOPPAR stood at $83.81. EBITDA PAR was $67.80 for May, TRevPAR was $219.58 and labor costs per room were $66.27. "After the top-line metrics showed mixed results in May, it wasn't a surprise that the bottom-line metrics came in a bit lower," said Raquel Ortiz, director of financial performance, STR. "Regardless, each of the four key P&L metrics showed improvement when indexed to 2019, with GOPPAR and EBITDA PAR coming in higher than May 2019 levels. We continue to keep a close eye on F&B as group demand levels rise. F&B revenues are gradually moving closer to 2019 levels, but catering and banquet revenues continue to lag."

IN JUNE, GOPPAR for U.S. hotels reached its highest level since October 2019, according to STR. All profitability metrics were up in the month compared to the month before. GOPPAR was $91.23 for the month, up from $88.63 reported in May. In April GOPPAR stood at $90.96. EBITDA PAR was $69.53 for June, TRevPAR was $226.10 and labor costs per room were $68.40. "Each of the key bottom-line metrics increased from May due to a rise in room rates as well as improved revenue from F&B and groups," said Joseph Rael, STR's senior director of financial performance. "Profit margins have held strong the past 12 months but have been slightly reduced recently due to rising wages and costs. Hotels have brought back services, amenities and F&B operations that were previously reduced, which have increased profits overall but at lower margins. While F&B revenues remain strong, catering and banquet revenue has lagged with improvement in recent months due to rising group demand."

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."

BOUTIQUE HOTELS GENERATED more annual RevPAR than traditional hotels in the U.S. last year, according to a report from consulting agency The Highland Group. Hotels focused on experiential stay, exceptional design and amenities also attracted a rate premium, the report said. Boutique hotels are classified into independent boutique, lifestyle hotels and soft brand collections. The Boutique Hotel Report 2022 has said that upper midscale, upscale and luxury soft brand collections recovered strongly in 2021 in performance metrics against their US upscale counterparts, while the upper upscale class was ahead in rate recovery and lagged in occupancy. According to the report, lifestyle upper upscale and luxury hotels recovered at parity with their counterparts, while upper midscale and upscale lifestyle hotels reported slower recovery in both occupancy and average rate. "Upper midscale and upscale independent boutique hotels in urban locations recovered at a stronger pace than all U.S. hotel in urban locations in both performance metrics.

KNOWLAND, A HOSPITALITY data-as-a-service provider, recently integrated a sub-market filter into its search and dashboard functions, adding to its market snapshot and new-to-market capabilities. This new feature enables precise filtering down to the sub-market level within larger markets, identifying localized opportunities, Knowland said in a statement. "To stay agile in this competitive industry, hotel sellers must be savvy about community activity," said Jeff Bzdawka, Knowland's CEO. "With this localized market view, they see opportunities in their immediate area rather than sifting through broad datasets. We continue to innovate our platform with new features and functionalities to help sales teams excel in account-based selling and automate the sales process for better outcomes." Hotel sales teams rely on detailed data analytics for sourcing new business, Knowland said. The sub-market filter provides accessible metrics on top neighborhoods, aiding teams in adopting an account-based selling approach.

U.S. HOTEL PERFORMANCE dropped in the fourth week of October compared to the week before, according to STR. When compared to 2019, occupancy increased as a result of the Halloween calendar shift, as the holiday fell during the comparable week three years ago. STR reminded that in the first week of November performance metrics will show the negative side of that shift. Occupancy was 65.8 percent for the week ending Oct. 29, down from 69.9 percent the week before and up 5.2 percent from 2019. ADR was $152.94 during the week, dipped from $157.43 the week before and up 21.4 percent from three years ago. RevPAR reached $100.59 during the week, down from $110.11 the week before and up 27.8 percent from 2019. Among STR's top 25 markets, Tampa reported the largest increase in each of the key performance metrics: occupancy up 21.5 percent to 76.1 percent, ADR increased 42.1 percent to $158.38 and RevPAR improved 72.5 percent to $120.58, over 2019. Tampa has been one of the markets in Florida that have seen a performance lift associated with post-Hurricane Ian demand.

THE MAJOR CHALLENGES faced by U.S. hotels are labor, the return of corporate, group and conference travel, the impact of inflation on cost lines and the energy crisis, said Michael Grove, COO of HotStats, in a recent presentation. In the same session at the International Hospitality Investment Forum, panelists debated the best metric by which to measure industry performance. While speaking during a panel session at IHIF titled "Decoding the Data", Grove said that the most pressing issue is fixed costs are being replaced by oncoming growth in the variable areas which changes the dynamic of the cost base. "One of the key items around the average rate growth is what's going to happen when the full business mix returns," Grove said. "We still have a lot more of the lower-rated business to come back-the tours and groups and the other segments. We need to look at the impact on the cost lines themselves, the expense items around the P&L and what impact inflation is having on those, what impact the labor challenge is having.

STR HAS UNVEILED the forward-looking component of its product "Forward STAR" in 104 new markets/submarkets across the U.S. and Canada. Forward STAR, which is presently live in 450 areas around the globe, allows hotel property and portfolio users to benchmark the next 365 days of occupancy on the books against the competition and market. "This launch represents our largest Forward STAR expansion to date and adds significant value to our overall benchmarking offering," said Amanda Hite, STR's president. "Adding to the historical data that drives so many operational decisions around the industry, this directly sourced forward data provides intel into where hotels can gain available business, adjust their approach to pricing, and implement actions around market events. When combining historical metrics, profitability data and these forward bookings insights, industry stakeholders are positioned to analyze performance from every angle." According to the statement, Forward STAR was launched in 17 of the country's 25 largest hotel markets, including Las Vegas, New York City, Los Angeles, Washington, D.C., Boston and Phoenix. More granular submarkets were added with the addition of central business districts in markets such as Austin, Chicago, Nashville and New Orleans as well as airport submarkets in areas such as Miami, San Francisco and Bradenton, Florida.

THE FIRST QUARTER of 2022 brought better than the national average performance for Twenty Four Seven Hotels. The Newport Beach, California-based third-party hospitality management company also acquired two new hotels in Southern California. Steady growth in year's beginning Occupancy for Twenty Four Seven properties rose steadily during the first three months of the year, hitting 62.9 percent in January, 67.8 percent in February and 76 percent in March. ADR also rose during the same three months, from $142.66 to $160.99 to $174.02. RevPAR followed the same trend, rising from $89.73 to $109.10 to $132.25. Each metric also rose compared to the first quarter of 2021. "We continue to ride the massive wave of momentum that began for Twenty Four Seven Hotels in 2021, when our portfolio grew by 25 percent with the addition of seven new hotels now totaling 25 hotels with more than 3,100 rooms," said David Wani, CEO of Twenty Four Seven. "We will continue to seek third-party management opportunities with well-respected partners and brands in the western U.S., expanding our concentration in these unique markets where we have firsthand experience improving bottom lines and guest satisfaction scores."

U.S. HOTEL PERFORMANCE dipped slightly in the fourth week of May compared to the week before, according to STR. However, all performance metrics improved during the week compared to 2019. Occupancy was 66.5 percent for the week ending May 28, down from 68.6 percent the week before and up 3.2 percent from 2019. ADR was $151.73 for the week, slightly down from $151.75 the week before and up 22.2 percent from three years ago. RevPAR reached $100.97 during the week, down from $104.06 the week before and rose 26.2 percent from 2019. Among STR's top 25 markets, Phoenix saw the highest performance increases-occupancy was up 19.6 percent to 69.9 percent, ADR increased by 50.8 percent to $149.06 and RevPAR rose by 80.4 percent to $104.14, over 2019.

U.S. HOTEL PERFORMANCE declined in the third week of January compared to the previous week, according to CoStar. Despite this, year-over-year comparisons yielded mixed results. Metrics such as occupancy, ADR and RevPAR experienced a decrease during the week compared to the preceding period. Occupancy was 52.2 percent for the week ending Jan.20, a marginal decrease from the previous week's 53.3 percent, signaling a 3.8 percent year-over-year decline. ADR dropped to $142.27 from the prior week's $153.84, showing a 1.6 percent increase from the previous year. RevPAR decreased to $74.31 from the prior week's $81.96, reflecting a 2.2 percent decline compared to the corresponding period in 2023. Among the top 25 markets, Seattle experienced the largest year-over-year occupancy increase, rising by 9.6 percent to reach 54.1 percent.

U.S. HOTEL PERFORMANCE exhibited mixed results in the third week of April compared to the previous week, according to CoStar. Key metrics such as occupancy and ADR saw slight increases, while RevPAR declined from the preceding week. Occupancy rose to 66.8 percent for the week ending April 20, up from the previous week's 65.8 percent, but marked a 0.3 percent year-over-year decrease. ADR dropped to $158.60 from $160.20, a 1.5 percent increase compared to last year. RevPAR climbed to $105.94 from $105.48 the prior week, showing a 1.2 percent rise compared to the same period in 2023. Among the top 25 markets, Philadelphia saw the most significant year-over-year occupancy surge, soaring by 14.3 percent to reach 72.1 percent, while RevPAR also notably increased by 23.2 percent to $114.11.

U.S. HOTEL PERFORMANCE rose from the previous week, while occupancy and RevPAR levels reached the second highest of the year, behind the week ending 18 March, according to STR's latest data through 22 April. Occupancy for the week ending April 22 came in at 67.2 percent, up from 64.2 percent the week before, and increased 2.3 percent than the comparable week in 2022. ADR stood at $155.76, up from $155.33 the previous week and 4.2 percent over the same period in 2022. RevPAR was $104.64, also up from $99.67 the week before and 6.6 percent rise over 2022. Among the Top 25 Markets, Chicago posted the highest year-over-year increases in each of the key performance metrics: occupancy rose 23.9 percent to 72.2 percent, while ADR increased 29.6 per cent to $174.71. RevPAR also rose 60.6 percent to $126.13. Notably, New York City (82.1 percent) and Las Vegas (80.8 percent) were the only two markets to report occupancy above 80 percent.

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."

U.S. HOTEL OCCUPANCY was down in first week of March week-over-week, according to STR. All metrics were higher than comparable time periods in the last two years. Occupancy stood at 62.8 percent for the week ending March 4, down from 64.2 percent the week before, 3 percent more than the comparable week in 2022 and 5.6 percent below the comparable week in 2019. ADR stood at $151.35 for, up from $156.51 the previous week and also up 8.9 percent and 14.1 percent over the same month in 2022 and 2019, respectively. RevPAR was reported at $95.06, down from $100.43 the previous week, and up 12.1 percent and 7.7 percent increase over the same month in 2022 and 2019. Among the Top 25 Markets, Detroit saw the highest occupancy increase over 2019, up 5 percent to 63.2 percent, while Washington, D.C., was up the most from last year, an increase of 23.6 percent to 64.1 percent. D.C. also reported the most substantial year-over-year RevPAR growth, up 52.2 percent to $113.56. Las Vegas reported the highest ADR increase at $196.65 when measuring against 2019, up 56.8 percent and an increase of 33.7 percent in 2022. Las Vegas also saw the largest jump in RevPAR over 2019, up 54.3 percent to $153.55.

AS NORMAL SPRING break patterns continue, U.S. hotel performance increased in the first week of April compared to the previous week, according to STR. Metrics improved over the previous week as well as year-over-year in most cases. Occupancy stood at 66.2 percent for the week ending April 1, up from 64.9 percent the week before, and rose 3.4 percent than the comparable week in 2022 and decreased 3.5 percent over the comparable week in 2019. ADR was $158.40, down from $158.61 the week before, increased 7.3 percent and 19.9 percent against 2022 and 2019, respectively. RevPAR was $104.78 from $102.98 in the last week and rose 10.9 percent and 15.7 percent over the same month in 2022 and 2019. Among the top 25 markets, Washington, D.C., registered the highest year-over-year increase in occupancy, up 18.2 percent to 78.7 percent, while Dallas saw the highest occupancy lift over 2019, up 6.2 percent to 73 percent. Houston showed the most substantial ADR, up 25.8 percent to $133.5, while Phoenix reported the highest ADR increase over 2019, up 49.4 percent to $232.54.

U.S. HOTEL PERFORMANCE increased from the previous week and showed improved comparisons year-over-year, according to STR. Meanwhile, U.S. occupancy reached the second highest level for any week this year. Occupancy came in at 67.5 percent for the week ending May 20, up from 65.1 percent the week before and down 1.5 percent over the comparable week in 2022. ADR was $158.53, up from $154.90 the previous week, and increased 3.6 percent from 2022. RevPAR stood at $106.98 in the recent week, jumped from $100.81 the week before and increased 2.1 percent against the same period in 2022. Among the top 25 markets, Washington, D.C., saw the highest year-over-year increases in each of the three key performance metrics: occupancy rose 9.3 percent to 83.2 percent, while ADR increased 16.2 percent to $220.58. RevPAR also rose 27 percent to $183.60. Furthermore, the weekly occupancy level was the highest in the market since the start of the pandemic, STR said.

U.S. HOTEL PERFORMANCE increased in the second week of November compared to the week before, according to STR. All performance metrics improved during the week compared to same period in 2019 as well. Occupancy was 64.6 for the week ending Nov. 12, up from 62.4 the week before and increased 0.9 percent from 2019. ADR was $148.43 during the week, improved from $147.48 the week before and up 17.1 percent from three years ago. RevPAR reached $95.89 during the second week of November, increased from $91.99 the week before and up 18.2 percent from 2019. Among STR's top 25 markets, Norfolk/Virginia Beach reported the largest occupancy increase, up 14.3 percent to 63.6 percent, over November 2019. San Diego posted the largest ADR increase, increased 35.2 percent to $202.86, over 2019.

U.S. HOTEL PERFORMANCE was down in the first week of 2023 compared to the week before mainly due to post-holiday seasonality and an unfavorable calendar shift, according to STR. Performance metrics for the week was down compared to same period in 2019 as it was a full business week. Occupancy was 47.2 percent for the week ending Jan. 7, down from 54.2 percent the week before and decreased 11.5 percent from 2019. ADR was $142.82 during the week, decreased from $167.21 the week before and up 11.2 percent from three years ago. RevPAR reached $67.40 in the first week of 2023, dipped from $90.63 the week before and down 1.5 percent from 2019. Orlando was the only STR top 25 market to report an occupancy increase, 2 percent to 71.3 percent, over 2019.

THERE WAS A slight dip in U.S. hotel performance in the fifth week of July compared to the week before, which was the traditional summer travel peak, according to STR. Performance metrics for hotels were lower during the week compared to the week before, but higher when compared to 2019. Occupancy was 71.9 percent for the week ending July 30, down from 72.8 percent the week before and dropped 3.8 percent from 2019. ADR was $158.32 for the week, a slight dip from $158.79 the week before and increased 18.3 percent from three years ago. RevPAR reached $113.90 during the week, down from $115.59 the week before and up 13.9 percent from 2019. Nashville reported the largest occupancy increase during the post summer travel peak week, up 4.2 percent to 77.8 percent, over 2019 among STR's top 25 markets. The highest occupancy were in San Diego (87.4 percent), Boston (85.5 percent), and Oahu Island (85.3 percent) during the week under review.