Miami and Qatar markets led the world in hotel profit recovery in 2022 - Insights
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Miami and Qatar markets led the world in hotel profit recovery in 2022

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Miami and Qatar led the major global markets in hotel profit recovery for 2022, according to STR‘s full-year P&L data release. Both markets’ gross operating profit per available room (GOPPAR) surpassed 2019 levels, with the metric reaching 155% of the 2019 comparable in Miami. Helped by the World Cup, Qatar’s GOPPAR indexed at 152%. Qatar is designated as a market in STR’s database due to its size and composition.  Noted below are the key market outliers by each region:EuropeParis’ GOPPAR (US$173.02) was 123% of its comparable 2019 level. London (US$105.17) was the next closest market at 88%. Berlin (US$34.67) recaptured just 60% of 2019 GOPPAR.  Middle EastWhile Qatar led in terms of recovery, Dubai had a higher GOPPAR level (US$132.68) and came in a close second in terms of recovery, at 140%. Oman, while improved year over year, showed the lowest recovery at 78% of the pre-pandemic comparable. Asia Pacific New Delhi (US$51.00) was the only major APAC market to achieve 100% of its pre-pandemic comparable. Singapore (US$83.57) and Bali (US$49.37) came in at 87% and 81% of the 2019 comparables, respectively. North America Behind Miami, Toronto’s GOPPAR level (US$88.03) came in at 100% of the 2019 comparable. San Francisco’s GOPPAR (US$50.86) was furthest away from its pre-pandemic comparable at 41%. South AmericaBogota’s GOPPAR came in at US$36.83, which was 106% of the pre-pandemic comparable. Rio de Janeiro (US$17.17) saw the next-highest GOPPAR comparison (71%). Lima (US$5.74) was at just 14% of the 2019 comparable.

Industry stakeholders interested in Monthly P&L participation should contact MonthlyPnL@STR.com. Those interested in subscribing to reports should contact their account manager or info@STR.com.Key profitability metrics:TRevPAR – Total revenue per available roomGOPPAR – Gross operating profit per available roomEBITDA – Earnings before interest, income tax, depreciation, and amortizationLPAR – Total labor costs per available room

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STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an inte…

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