Hotel revenue reaches 50% of 2019 level
Total revenue for U.S. hotels reached 50 percent of the comparable 2019 level, according to STR‘s March 2021 monthly P&L data release.
GOPPAR, TRevPAR and EBITDA PAR came in higher than any month since February 2020.GOPPAR: $26.79 TRevPAR: $86.61 EBITDA PAR: $12.77 LPAR (Labor Costs): $27.66
Amid hiring difficulties, total labor costs were just 60 percent of the figure reported for March 2019.
“We have seen continued improvement in room revenue, but with little coming in from F&B and other departments, industry TrevPAR is not gaining as much steam,” said Raquel Ortiz, STR’s assistant director of financial performance. “At the same time, however, the lack of F&B expenses is allowing profit margins to grow