LONDON—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 percent of the 2019 comparable in Miami. Helped by the World Cup, Qatar’s GOPPAR indexed at 152 percent. 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:
Europe
Paris’ GOPPAR ($173.02) was 123 percent of its comparable 2019 level. London ($105.17) was the next closest market at 88 percent. Berlin ($34.67) recaptured just 60 percent of 2019 GOPPAR.
Middle East
While Qatar led in terms of recovery, Dubai had a higher GOPPAR level ($132.68) and came in a close second in terms of recovery, at 140 percent. Oman, while improved year over year, showed the lowest recovery at 78 percent of the pre-pandemic comparable.
Asia Pacific
New Delhi ($51.00) was the only major APAC market to achieve 100 percent of its pre-pandemic comparable. Singapore ($83.57) and Bali ($49.37) came in at 87 percent and 81 percent of the 2019 comparables, respectively.
North America
Behind Miami, Toronto’s GOPPAR level ($88.03) came in at 100% of the 2019 comparable. San Francisco’s GOPPAR ($50.86) was furthest away from its pre-pandemic comparable at 41 percent.
South America
Bogota’s GOPPAR came in at $36.83, which was 106 percent of the pre-pandemic comparable. Rio de Janeiro ($17.17) saw the next-highest GOPPAR comparison (71 percent). Lima ($5.74) was at just 14 percent of the 2019 comparable.
