Miami hotels had a difficult month in April 2019. GOPPAR was off 14.2 percent YOY, a likely byproduct of additional room supply that hit the area, according to the latest data tracking full-service hotels from HotStats. Close to 2,500 rooms have opened in Miami-Dade County in the last 12 months.
As a result of this increased room supply, room occupancy in the month plunged by 6.3 percentage points to 79.7 percent, which contributed to a 14.3 percent decrease in ancillary revenues. The drop in profit came in spite of a 4.3 percent saving in payroll to $69.10 on a per-available-room basis.
Profit & Loss Key Performance Indicators – Miami
April 2019 vs. April 2018
RevPAR: -6.5% to $146.14
TRevPAR: -9.3% to $221.57
Payroll: -4.3% to $69.10
GOPPAR: -14.2% to $87.32