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U.S. hotel profitability stalled in September

The U.S. hotel industry reported a third consecutive month with single-digit profitability, but improvements in year-over-year comparisons stalled, according to STR‘s latest monthly P&L data release.  

US hotel profitability trendIn a year-over-year comparison with September 2019, the industry reported the following:

  • GOPPAR: -91.7% to US$8.14
  • TRevPAR: -72.4% to US$68.58
  • EBITDA PAR: -109.3% to US$-7.03
  • LPAR (Labor Costs): -62.1% to US$31.94

Previous monthly GOPPAR comparisons came in at -91.3% (August), -93.3% (July), -105.4% (June) and -117.7% (May).

“GOPPAR came in a bit higher than August on an absolute basis, but for the first time since May, industry performance moved further away from pre-pandemic levels,” said Audrey Kallman, operations analyst at STR. “Among the findings from September data, we saw that urban properties are the only location type still operating without profitability, while the small metro and interstate hotels continue to operate with the highest profitability. Additionally, catering & banquet revenues are only 15% of what they were last year due to group business being virtually non-existent.”

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“One positive development is the number of top markets with positive GOPPAR increased from eight in August to 12 in September.”



Full, complimentary September profitability slides are available HERE. Industry stakeholders interested in Monthly P&L participation should contact Those interested in subscribing to soon-to-be released reports should contact their account manager or

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

Tags: September, STR, US hotels


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