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HotStats: U.S. hotels' February GOPPAR highest since Oct - 0 views

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    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.
asianhospitality

HotStats: GOPPAR tracking allows owners to drive profits - 0 views

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    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.
asianhospitality

HotStats: Zero-based budgeting is essential amid volatility - 0 views

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    ZERO-BASED BUDGETING is essential for hotels amid near- and long-term volatility, according to a blog from HotStats. The blog also suggested that hoteliers need to turn to other futureproofing or future-cushioning methods. In a recent blog post, Michael Grove, COO, HotStats said that zero-based budgeting, a method of budgeting in which all expenses must be justified for each new period starting from a zero base, is very necessary given the fluidity of the global economy and, ultimately, its impact on hotel operations. At the recent 2022 M3 Partners meeting, Grove first illustrated the pandemic's effect on worldwide profits and how it's changed the landscape. "It's worth reminding ourselves of the importance and magnitude of the U.S. hotel industry's share on the global scale, which has only grown during the pandemic," Grove said in the article. According to the blog post, almost half of global profits are produced in the U.S. and that share only rose as the pandemic slackened. "A massive 47 percent of hotel profits are achieved in the U.S., up 6.6 percentage points since 2019, the result of myriad variables, including a large domestic market and staycation trend," Grove said in the post. "Meanwhile, severe lockdowns and restrictions in Europe and Asia-Pacific sent their percentages down as the Middle East received a boost in the fourth quarter 2021 from Expo 2020 in Dubai."
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