This week in Hospitality & Tourism #15 2022

April 15, 2022

#news
#str
#profitability
#franchising

U.S. hotel GOPPAR reaches highest level since October

After falling to roughly $20 in January, gross operating profit for U.S. hotels reached nearly $59—the highest level in the metric since October 2021, according to STR's February 2022 profit and loss data.

  • Gross operating profit per available room: $58.88.
  • Total revenue per available room: $169.77.
  • Earnings before interest, income tax, depreciation, and amortization per available room: $39.29.
  • Labor costs: $56.63.
STR Profitability

Hospitality Asset Managers Consider COVID Impact on the Hotel Industry

The Hospitality Asset Managers Association released the results of its Spring 2022 Industry Outlook Survey. Highlights of the results include:

  • One-third of respondents currently forecast 51-75% of their hotels to exceed 2022 budgeted RevPAR.
  • Three-quarters of surveyed asset managers are more optimistic about the remainder of 2022 since the COVID-19 Omnicom variant has subsided.
  • The top three concerns of asset managers are labor availability (90.48%), wage increases (70.24%) and supply chain delays (61.9%).
  • 61.9% of participants believe RevPAR will return to 2019 levels for the entire U.S. by 2023.
  • Nearly 90 percent of those surveyed actively are seeking acquisition opportunities.

AAHOA updates 12 Points of Fair Franchising

A best-practice approach to designing, developing, and implementing best-in-class, mutually beneficial franchise systems. Click here for the PDF document.

STR: U.S. hotel results for week ending 9 April

U.S. hotel performance increased from the previous week, according to STR‘s latest data through 9 April.

  • Among the Top 25 Markets, Tampa saw the highest occupancy increase over 2019 (+6.2% to 84.0%).
  • Minneapolis experienced the largest occupancy decrease from 2019 (-29.5% to 51.4%).
  • Miami posted the largest ADR increase over 2019 (+49.6% to US$328.35).
  • The steepest RevPAR deficits were in San Francisco/San Mateo (-51.9% to US$121.19) and Minneapolis (-44.8% to US$60.25).

3-9 April 2022 (percentage change from comparable week in 2019):

  • Occupancy: 66.4% (-4.7%)
  • Average daily rate (ADR): US$150.45 (+10.6%)
  • Revenue per available room (RevPAR): US$99.93 (+5.4%)
STR Occupancy Data