Back To Press Releases

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

Comments 0

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

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.

About STR
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets. For more information, please visit str.com and costargroup.com.

North America Media Contact
Haley Luther
Communications Manager
hluther@str.com
+1 (216) 278 0627

General Media Inbox:
media@str.com

0 Comments