Enchancment in group enterprise, particularly throughout the Prime 25 Markets and upper-upscale chains, drove progress in U.S. lodge revenues and income, based on 2023 P&L information from CoStar. CoStar is a number one supplier of on-line actual property marketplaces, info and analytics within the property markets.
2023 per-available-room metrics (% change from 2022)
- GOPPAR: US$75.83 (+8.2%)
- TRevPAR: US$211.49 (+9.6%)
- EBITDA PAR: US$53.05 (+7.6%)
- LPAR (Labor Prices): US$71.56 (+13.2%)
“Whole business revenues and income had been effectively past 2022 ranges as pricing energy continued to outweigh the affect of softer leisure demand,” stated Claudia Alvarado Cruz, senior analytics supervisor at STR. “A elevate in company demand made enhancements particularly notable throughout the upper-upscale manufacturers and main markets. New York Metropolis was the shining instance with 47% progress in GOPPAR.”
General, 14 of the Prime 25 Markets reported double-digit will increase in GOPPAR.
“F&B labor prices on a per-occupied-room foundation confirmed the most important progress of any division in 2023,” stated Alvarado Cruz. “12 months over yr, F&B revenues on the identical foundation had been up 9.1% however remained down in comparison with 2019 when adjusted for inflation. Additional proof of the development in group enterprise, banquet and catering per occupied room confirmed a rise of 13% this yr.”
For extra details about the corporate and its services, please go to www.costargroup.com.
About STR
STR gives premium information benchmarking, analytics and market insights for the worldwide hospitality business. Based in 1985, STR maintains a presence in 15 international locations with a North American headquarters in Hendersonville, Tennessee, a global headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the main supplier of business actual property info, analytics and on-line marketplaces. For extra info, please go to str.com and costargroup.com.
