Sydney hotels led April profitability recovery in Asia Pacific

LONDON—Among key hotel markets in the Asia Pacific region, Sydney’s gross operating profit per available room (GOPPAR) level came closest to its 2019 comparable, according to STR’s April 2022 P&L data release.

After coming in at just 51% of 2019 GOPPAR levels in March, Sydney posted an April GOPPAR of US$52.08, which was 82% of the pre-pandemic comparable.

Also reporting significant month-over-month improvement, Singapore posted an April GOPPAR of US$45.56. That level was 54% of the pre-pandemic comparable after the market had reached just 37% using the same comparison in March. Bangkok’s GOPPAR was 27% of the 2019 comparable, up from 13% in March.

While improved, Hong Kong’s GOPPAR remained in negative territory for a fourth straight month. Beijing was the only key market in the Asia Pacific region to show lower profitability from the prior month.  

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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

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 corporate 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), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.

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