since February 2020, the last normalized month of performance before COVID-19 reframed the world. It was the highest profit month in the U.S. GOPPAR in March 2022 was up some $70 over January 2022 and at $90 was closing in on March 2019’s level. saw a similar uptick in its operating fortunes. They are also significantly higher than at any time pre-pandemic. At the same, other departmental costs are not abating, including utilities, which, at €7.50 on a PAR basis, were up 107% in Q1 versus the same time last year. Total labor on a per-available-room basis was still below 2019 levels but up significantly YTD since last year-143%. On the other side of the ledger, expenses saw a bit of a reduction in March, but overall costs are proving recalcitrant. ADR across Europe was at its highest level since September 2019, with March ADR €25 euros higher than at the same time in 2019. Though occupancies crept up, it was average daily rate that boosted hotelier fortunes. After GOPPAR dropped into negative territory in January, it’s now up 229% YTD compared to the same time in 2021.įeeding into the increase in GOPPAR was a concurrent lift in both RevPAR and TRevPAR, with both metrics up high triple-digit percentages in March versus the same month last year. But for the global hotel industry, the month was anything but a tragedy.įirst-quarter hotel performance ended strong with March profit surging across most global regions, a sign of stronger revenues, better conversion rates and new worries over a COVID upsurge not discouraging would-be travelers.Įuropean GOPPAR hit €35.97, the highest the number has reached since it peaked in October 2021, though still around €12 lower than March 2019.
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