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Miami and Qatar markets led the world in hotel profit recovery in 2022

admin by admin
February 13, 2023
in News


Miami and Qatar led the major global markets in hotel profit recovery for 2022, according to STR‘s full-year P&L data release.

Both markets’ gross operating profit per available room (GOPPAR) surpassed 2019 levels, with the metric reaching 155% of the 2019 comparable in Miami. Helped by the World Cup, Qatar’s GOPPAR indexed at 152%. Qatar is designated as a market in STR’s database due to its size and composition.  

Noted below are the key market outliers by each region:

Europe
Paris’ GOPPAR (US$173.02) was 123% of its comparable 2019 level. London (US$105.17) was the next closest market at 88%. Berlin (US$34.67) recaptured just 60% of 2019 GOPPAR.  

Middle East
While Qatar led in terms of recovery, Dubai had a higher GOPPAR level (US$132.68) and came in a close second in terms of recovery, at 140%. Oman, while improved year over year, showed the lowest recovery at 78% of the pre-pandemic comparable. 

Asia Pacific 
New Delhi (US$51.00) was the only major APAC market to achieve 100% of its pre-pandemic comparable. Singapore (US$83.57) and Bali (US$49.37) came in at 87% and 81% of the 2019 comparables, respectively. 

North America 
Behind Miami, Toronto’s GOPPAR level (US$88.03) came in at 100% of the 2019 comparable. San Francisco’s GOPPAR (US$50.86) was furthest away from its pre-pandemic comparable at 41%. 

South America
Bogota’s GOPPAR came in at US$36.83, which was 106% of the pre-pandemic comparable. Rio de Janeiro (US$17.17) saw the next-highest GOPPAR comparison (71%). Lima (US$5.74) was at just 14% of the 2019 comparable.

Industry stakeholders interested in Monthly P&L participation should contact MonthlyPnL@STR.com. Those interested in subscribing to reports should contact their account manager or info@STR.com.

Key profitability metrics:
TRevPAR – Total revenue per available room
GOPPAR – Gross operating profit per available room
EBITDA – Earnings before interest, income tax, depreciation, and amortization
LPAR – Total labor costs per available room





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