HotStats: Hotels report profit upgrades as travel resumes

Lobby

According to the latest numbers from HotStats, global hotel performance is improving, but is a “ways away” from prepandemic numbers.

U.S.

As the country’s reopening continues, HotStats expects the hotel industry will see some benefits. In April, gross operating profit per available room was at its highest level since February 2020. At $35.45, it was up 235 percent over the same time a year ago.

The uptick in profit came on the back of growing room revenue and total revenue as demand strengthened. After occupancy was in single digits back in April 2020, it has climbed considerably since, underpinned in particular by the leisure traveler as group and corporate business continue to flag. Leisure travel was almost 50 percent of total traveler mix in April, a 22.9 percentage point uptick over the same time a year ago.

Total revenue per available room in the month hit $116.04, a 752 percent year-over-year increase, and $15 higher than March.

Read more on our our sister publication Hotel Management