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CoStar:U.S Hotel Profits: Insights on GOPPAR and TRevPAR Growth - 0 views

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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."
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

STR: U.S. hotels' GOPPAR in February highest since October 2022 - 0 views

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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."
asianhospitality

HotStats: Hotels see strong performance in first quarter - 0 views

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    THE PERFORMANCE OF U.S. hotels ended strong in the first quarter with March profit surging across most global regions, according to HotStats. The research firm said stronger revenues, better conversion rates and less worry by travelers about a COVID upsurge drove the first quarter surge in performance. During the quarter U.S. hotels saw an increase in its operating fortunes, according to a blog post on the HotStats website. GOPPAR in March 2022 was up $70 over January 2022 and at $90 was closing in on March 2019's level. It was the highest profit month in the U.S. since February 2020, the last normalized month of performance before COVID-19 reframed the world. ADR growth in the U.S. led the way in recovery with March ADR on a nominal basis was at its highest level since October 2018.
asianhospitality

LE:U.S. hotel construction pipeline growth continues in the second quarter - 0 views

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    THE U.S. HOTEL construction pipeline continued its growth at the end of the second quarter of 2022 as travel returned, according to Lodging Econometrics. The upscale and upper-midscale segments continue to lead the pipeline with 68 percent of projects. The total U.S. construction pipeline stands at 5,220 projects with 621,268 rooms during the second quarter. That is up 9 percent by projects and 4 percent by rooms, over the same period last year, according to the U.S. Construction Pipeline Trend Report from LE. There were 965 projects with 130,914 rooms currently under construction in the second quarter, down 17 percent by projects and 18 percent by rooms, year-over-year. As many as 2,009 projects with 232,163 rooms are scheduled to start in the next 12 months, up 9 percent by projects and 9 percent by rooms, over last year. According to the report, projects and rooms in early planning reached a record high at 2,246 projects with 258,191 rooms, up 26 percent by projects and 15 percent by rooms, compared to last year. "Improved demand and increased consumer sentiment and spending has led to record-high rates of travel and much improved hotel revenue over the last few months. The outlook for the industry is positive and growth is expected to continue throughout 2022, albeit at a decelerated pace than initially expected. The industry's ability to adapt to the constantly changing economic environment provides a positive outlook for hotel performance, and its eventual full recovery," the report said.
asianhospitality

STR: GOPPAR in June reached its highest level since October 2019 - 0 views

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    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."
asianhospitality

U.S. extended-stay room supply growth subdued in 2022 - 0 views

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    EXTENDED-STAY HOTEL room supply in the 100 largest metropolitan statistical areas in the U.S. grew 2.5 percent in 2022 compared to 2021, its smallest increase in several years, according to a new report from The Highland Group. The survey, which researched supply, demand, revenues and new construction of extended-stay hotels, said the outcome in 2022 was about half the net supply gain reported in 2021. According to the report, the lengthening hotel development timeline, fewer construction starts, disenfranchising hotels that no longer meet brand standards, conversions to apartments and some municipalities acquiring extended-stay hotels for housing have resulted in the muted growth. While there was a sharp decline in reported extended-stay rooms under construction last year compared to 2021, construction starts increased 6 percent over the last 12 months. "However, they remain low compared to the pre-pandemic period, the report noted. RevPAR growth in 2022 strongly favored ADR as opposed to occupancy gains in 2021. "Consequently, more than 40 MSAs reported lower average occupancy in 2022 than during the previous year. However, only a dozen MSAs have not yet recovered RevPAR back to its nominal 2019 value compared to about half the MSAs last year," it showed.
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https://www.asianhospitality.com/report-extended-stay-hotels-set-for-faster-growth/ - 0 views

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    U.S. EXTENDED-STAY HOTELS ended 2024 strong after a slow start, with supply, demand and room revenue growth outpacing the overall industry, according to The Highland Group. However, ADR and RevPAR growth lagged yet stayed positive, with stronger gains in the latter half. The Highland Group's report on the U.S. Extended-Stay Hotel Market 2025 found that although below the long-term average, extended-stay supply growth in 2024 was the highest since 2021 and is set to accelerate over the next one to three years. "Fundamental differences, such as far higher interest rates and real construction costs, exist between the current and most recent extended-stay hotel growth cycles, but a substantial increase in room revenues remains likely over the next one to three years," said Mark Skinner, The Highland Group's partner.
asianhospitality

CoStar: GOPPAR reached $75.83 for 2023, up 8.2 percent from 2022 - 0 views

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    U.S. HOTEL REVENUES and profitability saw an increase in 2023 compared to 2022, with improvements in group business across the top 25 markets and upper-scale chains, according to STR's 2023 P&L data. Overall, 14 of the top 25 markets reported double-digit increases in GOPPAR. "Total industry revenues and profits were well beyond 2022 levels as pricing power continued to outweigh the impact of softer leisure demand," said Claudia Alvarado Cruz, senior analytics manager at STR. "A lift in corporate demand made improvements especially notable across the upper-upscale brands and major markets. New York City was the shining example with 47 percent growth in GOPPAR." In 2023, GOPPAR reached $75.83, marking an 8.2 percent increase from 2022. TRevPAR stood at $211.49, indicating a 9.6 percent rise, while EBITDA PAR amounted to $53.05, up 7.6 percent from the prior year. Labor costs notably increased, reaching $71.56, reflecting a 13.2 percent rise.
asianhospitality

U.S. Extended-Stay Hotels See Positive Growth in May 2024 - 0 views

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    U.S. EXTENDED-STAY HOTELS room supply increased by 3.2 percent in May, slightly above the average monthly rise over the past two years, according to The Highland Group. May marked the 32nd consecutive month with supply growth at 4 percent or less, and the annual supply increase has been under 2 percent for two years. However, both metrics remain well below the long-term average. The 12.8 percent increase in economy extended-stay supply, along with smaller gains in mid-price and upscale segments, is primarily due to conversions, the report said. New construction in the economy segment accounts for only about 3 percent of rooms opened compared to a year ago.
asianhospitality

STR: GOPPAR of U.S. hotels dropped in July - 0 views

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    GOPPAR FOR U.S. hotels dropped in July but once again exceeded 2019 levels for the fourth consecutive month, according to STR. The summer peak still brought an increase in demand, but the cost of ramping up to meet that demand cut into profit margins. GOPPAR was $78.30 for the month, down from $91.23 reported in June. It was $88.63 in May and stood at $90.96 in April. EBITDA PAR was $55.29 for July, TRevPAR was $209.66 and labor costs per room were $67.27. "While each of the key bottom-line metrics decreased slightly from June on a per-available-room basis, total profits increased with peak summer room demand and revenues," said Raquel Ortiz, STR's director of financial performance. "Profit margins were stronger than July 2019 for both full- and limited-service hotels, but GOP margins were at lower levels than the previous four months. The dip in margins can be attributed to higher expenses associated with more ramped-up operations as well as the general rise in costs around the country. Rising wages are being somewhat balanced by hotels using more contract labor and reducing benefits costs."
asianhospitality

CoStar: U.S. hotel performance improves in May - 0 views

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    THE U.S. HOTEL industry showed improved performance in May compared to the same month last year, according to CoStar. All three performance metrics-occupancy, ADR, and RevPAR-increased year-over-year. The top 25 markets reported higher occupancy and ADR than all other markets. Occupancy increased to 65.7 percent in May, up from 65.2 percent in April, and increased by 1.5 percent compared to May 2023. ADR climbed to $160.40 from $157.31 the previous month, a 2.4 percent rise from 2023. RevPAR reached $105.46, up from $102.51 the preceding month, reflecting a 4 percent increase from May of the previous year. Among the top 25 markets, New York City led in all three key performance metrics: occupancy rose 5.8 percent to 88.9 percent, ADR increased 6.3 percent to $339.25, and RevPAR climbed 12.5 percent to $301.57. Markets with the lowest occupancy for the month included Detroit at 46.1 percent and Chicago at 49.4 percent.
asianhospitality

Extended-Stay Hotels Soar to New Heights in Q4 2024 - 0 views

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    U.S. EXTENDED-STAY HOTELS saw strong performance in the fourth quarter of 2024, with RevPAR and room revenue reaching six-quarter highs, according to The Highland Group. Supply growth exceeded 3 percent for the fourth consecutive quarter, the first time in nearly three years, while demand rose 4.6 percent, the highest since the first quarter of 2021. The Highland Group's 2024 fourth quarter U.S. Extended-Stay Hotels Report found occupancy at a three-year high. "Extended-stay demand growth in the fourth quarter of 2024 was the largest quarterly increase in three years and well ahead of the accelerating gain in supply," said Mark Skinner, partner at The Highland Group.
asianhospitality

Wyndham Hotels Q3 Growth: 4% Global Room Expansion & Development Pipeline Surge - 0 views

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    WYNDHAM HOTELS & RESORTS reported growth in net rooms and its development pipeline for the third quarter. Global systemwide rooms increased 4 percent year-over-year, with 1 percent growth in the U.S. and 8 percent internationally. Global RevPAR rose 1 percent in constant currency compared to 2023, with a 1 percent decline in the U.S. and 7 percent growth internationally. The company's adjusted net income for the third quarter was $110 million, a 1 percent decrease year-over-year but a 3 percent increase on a comparable basis, Wyndham said in a statement. "Our teams delivered exceptional results, executing our growth strategy and achieving 7 percent growth in comparable adjusted EBITDA, driven by system expansion, higher royalty rates, and increased ancillary revenues," said Geoff Ballotti, president/CEO. "We awarded 10 percent more franchise contracts domestically, driving 5 percent growth in our development pipeline. Stabilizing RevPAR trends and increasing infrastructure demand are expected to lead to improved results in the coming quarters. We remain focused on delivering value to our guests, franchisees, and shareholders, having returned nearly $380 million year-to-date through dividends and share repurchases."
asianhospitality

Hyatt sees RevPAR, revenue and pipeline soar in Q1 - 0 views

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    HYATT HOTELS CORP. reported strong early 2024 performance, with RevPAR and revenue growth, fueled by pipeline expansion driving its core hotel business and global franchise network. Systemwide RevPAR surged by 5.5 percent compared to 2023, while all-inclusive resorts net package RevPAR soared by 11 percent. Meanwhile, U.S. RevPAR increased by approximately 2 percent, excluding the Easter impact, indicating normalized growth. Net rooms grew by about 5.5 percent, with net income at $522 million and adjusted net income at $75 million, Hyatt said in a statement. Adjusted EBITDA stood at $252 million, dropping by 9 percent compared to Q1 2023, mainly due to the Super Bowl in Phoenix, increased real estate taxes, higher wages, and transaction costs from ongoing asset sales.
asianhospitality

U.S. Hotel Performance Up for Week Ending March 1, 2025 - Asian Hospitality - 0 views

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    U.S. HOTEL PERFORMANCE improved for the week ending March 1 compared to the previous week, according to CoStar. Occupancy and RevPAR increased week over week, while ADR saw a slight decline, but all three metrics showed year-over-year growth. Occupancy increased to 62.8 percent for the week ending March 1, up from 60.3 percent the previous week and 0.4 percentage points higher year over year. ADR declined slightly to $159.26 from $159.90 the prior week but remained 2.7 percent higher than the same week last year. RevPAR increased to $100.06 from $96.49, reflecting a 3.1 percent gain compared to the same period in 2023. Among the top 25 markets, St. Louis recorded the highest year-over-year occupancy gain, rising 12.1 percentage points to 59.4 percent.
asianhospitality

U.S. Extended-Stay Room Supply Grows 3.3% in August | Revenue Surges Amidst Steady Expa... - 0 views

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    U.S. EXTENDED-STAY ROOM supply increased by 3.3 percent in August, surpassing the average monthly growth over the past two years, according to The Highland Group. This rise is partly attributed to the inclusion of WaterWalk by Wyndham, a mid-price extended-stay brand, in the database starting in May after its affiliation with Wyndham. August also marked the 35th consecutive month of supply growth at 4 percent or less, with the annual supply change remaining below 2 percent for the past two years, as revealed in The Highland Group's U.S. Extended-Stay Hotels Bulletin. However, both metrics are well below the long-term average, the report found. The 11.9 percent increase in economy extended-stay supply, along with modest gains in mid-price and upscale segments, is primarily due to conversions. New construction in the economy segment is estimated at only 3 percent of rooms compared to last year, the report noted.
asianhospitality

AirDNA: Economic stability expected to fuel growth for U.S. short-term rentals in 2024 - 0 views

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    A STABLE ECONOMIC backdrop is expected to fuel a 10.7 percent year-over-year increase in the U.S. short-term rental industry in 2024, surpassing the 6.7 percent rise seen in 2023, according to AirDNA's 2024 outlook report. Moreover, AirDNA foresees balanced growth for the industry in 2024, marked by a projected 10.9 percent increase in supply expansion guided by rising demand for more sustainable market practices. "Approaching 2024, the industry anticipates balanced growth with a projected 10.9 percent increase in supply expansion," said Jamie Lane, senior vice president of Analytics at AirDNA. "Contrary to exaggerated reports of an STR 'collapse,' heightened market competition emphasizes the need for hosts and property managers to meticulously monitor data trends. This strategic approach is crucial for surpassing competitors and sustaining revenue, taking advantage of a strong economy and the growing preference of travelers for STR lodging."
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Digital Upgrade: OYO Invests $10M in G6 Hospitality's Growth - 0 views

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    HOSPITALITY TECHNOLOGY FIRM OYO aims to invest $10 million to enhance G6 Hospitality's digital assets, including its website and app, targeting a quadruple increase in apps before summer. The company will use digital targeting, focusing on high-intent customers through direct partnerships with Google and Microsoft. The investment will fund data-driven digital campaigns to reach customers actively searching for accommodations with an aim toward boosting booking conversions and franchise partner value, G6 Hospitality said in a statement. "By concentrating our resources on users most likely to convert, we're optimizing our marketing spend and delivering more value to our franchise partners," said Shashank Jain, G6 Hospitality's head of online revenue. "The investment underscores G6's commitment to supporting its franchise network by driving direct bookings and reducing dependency on third-party platforms."
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