Dubai, Miami led hotel profit recovery in 2021
LONDON, February 7, 2022
Dubai and Miami (US) led the major global markets in hotel profit recovery for 2021, according to STR‘s full-year P&L data release.
While Dubai’s gross operating profit per available room (GOPPAR) reached 95% of its pre-pandemic comparable, Miami beat 2019 levels by 14 percentage points, it said.
Helped by Expo 2020, Dubai’s GOPPAR reached $89.68, which was 95% of the 2019 comparable. Qatar ($42.07) came in a close second at 94%. Oman was the only market to show a negative GOPPAR level (-$2.77), which was 107% below the 2019 comparable.
Miami’s GOPPAR reached $116.81, which was 114% of the pre-pandemic comparable. Behind Miami, Tampa’s GOPPAR level ($76.51) came in at 92% of the 2019 comparable. San Francisco/San Mateo’s GOPPAR ($1.78) was furthest away from its pre-pandemic comparable at just 1%.
Moscow’s GOPPAR ($38.88) was 80% of its comparable 2019 level. Paris ($60) was the next closest market at 33%. Amsterdam ($10.53) recaptured just 10% of 2019 GOPPAR.
Shanghai’s GOPPAR ($29.67) was 75% of its pre-pandemic comparable, followed by Beijing ($19.33), which reached 38%. Bangkok’s GOPPAR level was in negative territory for the year (-$12.24), which was 122% below pre-pandemic levels.
Rio de Janeiro’s GOPPAR came in at $11.66, which was 49% of the pre-pandemic comparable. São Paulo ($7.06) saw the next-highest GOPPAR comparison (27%) in South America region. Lima ($6.53) was at just 16% of the 2019 comparable.
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. – TradeArabia News Service
