Miami and Dubai led the world in hotel profit recovery in 2021 - Insights
Global News

Miami and Dubai led the world in hotel profit recovery in 2021

Hotel profit by countryMiami and Dubai led the major global markets in hotel profit recovery for 2021, according to STR‘s full-year P&L data release.

Miami’s gross operating profit per available room (GOPPAR) beat 2019 levels by 14 percentage points, while Dubai reached 95% of its pre-pandemic comparable.

Noted below are the market outliers by each region:

Europe
Moscow’s GOPPAR (US$38.88) was 80% of its comparable 2019 level. Paris (US$60.00) was the next closest market at 33%. Amsterdam (US$10.53) recaptured just 10% of 2019 GOPPAR.

Middle East
Helped by Expo 2020, Dubai’s GOPPAR reached US$89.68, which was 95% of the 2019 comparable. Qatar (US$42.07) came in a close second at 94%. Oman was the only market to show a negative GOPPAR level (-US$2.77), which was 107% below the 2019 comparable.

Asia Pacific 
Shanghai’s GOPPAR (US$29.67) was 75% of its pre-pandemic comparable, followed by Beijing (US$19.33), which reached 38%. Bangkok’s GOPPAR level was in negative territory for the year (-US$12.24), which was 122% below pre-pandemic levels.

North America 
Miami’s GOPPAR reached US$116.81, which was 114% of the pre-pandemic comparable. Behind Miami, Tampa’s GOPPAR level (US$76.51) came in at 92% of the 2019 comparable. San Francisco/San Mateo’s GOPPAR (US$1.78) was furthest away from its pre-pandemic comparable at just 1%.

South America
Rio de Janeiro’s GOPPAR came in at US$11.66, which was 49% of the pre-pandemic comparable. São Paulo (US$7.06) saw the next-highest GOPPAR comparison (27%). Lima (US$6.53) was at just 16% of the 2019 comparable.

Tags: , , ,

Related Courses

Related Articles

Asia Pacific hospitality industry update
Latin America’s hotel construction pipeline

You might also like:

 
Join over 60,000 industry leaders.

Receive daily leadership insights and stay ahead of the competition.

Most popular:

Popular this week:

[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]