WASHINGTON—Enchancment in group enterprise, particularly throughout the High 25 Markets and upper-upscale chains, drove development in U.S. lodge revenues and income, in line with 2023 P&L knowledge from CoStar.
U.S. Resort Efficiency
2023 per-available-room metrics
Proportion change from 2022
GOPPAR: $75.83 (up 8.2 %)
TRevPAR: $211.49 (up 9.6 %)
EBITDA PAR: $53.05 (up 7.6 %)
LPAR: $71.56 (up 13.2 %)
“Whole business revenues and income have been effectively past 2022 ranges as pricing energy continued to outweigh the impression of softer leisure demand,” mentioned Claudia Alvarado Cruz, senior analytics supervisor at STR. “A raise in company demand made enhancements particularly notable throughout the upper-upscale manufacturers and main markets. New York Metropolis was the shining instance with 47 % development in GOPPAR.”
General, 14 of the High 25 Markets reported double-digit will increase in GOPPAR.
“F&B labor prices on a per-occupied-room foundation confirmed the biggest development of any division in 2023,” mentioned Alvarado Cruz. “12 months over 12 months, F&B revenues on the identical foundation have been up 9.1 % however remained down in comparison with 2019 when adjusted for inflation. Additional proof of the advance in group enterprise, banquet, and catering per occupied room confirmed a rise of 13 % this 12 months.”
