Finance & DevelopmentPhiladelphia Hotels Saw Profits Decline at the End of 2018

Philadelphia Hotels Saw Profits Decline at the End of 2018

Hotels in Philadelphia saw declines for both December 2018 and the year as profit levels tumbled, impacted by falling non-rooms revenues and rising costs, according to the latest data from HotStats.

Profit & Loss Key Performance Indicators – Philadelphia
December 2018 vs. December 2017

RevPAR: +3.2% to $151.98
TRevPAR: -0.9% to $221.21
Payroll: +5.6 pts. to 38.4%
GOPPAR: -17.0% to $67.49

On a positive note, RevPAR at hotels in Philadelphia increased by 3.2 percent in December to $151.98, despite a 0.8 percentage-point YOY decline in room occupancy, which fell to 73.8 percent.

However, RevPAR growth was wiped out by falling non-rooms revenues, which included an 11.4 percent decline in food and beverage, as well as a 16.1 percent drop in conference and banqueting, on a per-available-room basis. The mix contributed to a 0.9 percent decline in TRevPAR for the month to $221.21.

In addition to the decline in revenue, rising costs, which included a 5.6 percentage-point increase in labor to 38.4 percent of total revenue, contributed to profit per room recorded at $67.49 in the month, more than 45 percent below the YTD figure of $97.56.

RELATED ARTICLES

CoStar: U.S. Hotel Industry Continues to Report Negative Yearly Comparisons

ARLINGTON, Virginia—The U.S. hotel industry reported negative year-over-year comparisons, according to CoStar’s latest data through July 12. U.S. Hotel PerformanceJuly 6-July 12, 2025Percentage change from comparable...

Charlestowne Hotels Adds Two Hotels to Managed Portfolio

CHARLESTON, South Carolina—Charlestowne Hotels announced the addition of two university-affiliated properties to its portfolio: Granville Inn in Granville, Ohio, and The Inn at Patrick...

Extended Stay America Select Suites Wildwood – The Villages Opens

CHARLOTTE, North Carolina—Extended Stay America announced the opening of the Extended Stay America Select Suites Wildwood – The Villages. Located in Wildwood, Florida, the...

CoStar: U.S. Hotel Construction Fell for Sixth Consecutive Month

ARLINGTON, Virginia—The volume of U.S. hotel rooms under construction decreased year over year for a sixth consecutive month, according to CoStar’s June 2025 data. U.S....

Marcus & Millichap Closes Sale of Sleep Inn Sumter

SUMTER, South Carolina—Marcus & Millichap announced the $3.5 million sale of Sleep Inn Sumter, a 63-room hotel located in Sumter, South Carolina. "We were able...

G6 Hospitality Launches 24/7 Customer Support Service

DALLAS, Texas—G6 Hospitality, the parent company of Motel 6 and Studio 6, announced the launch of its new 24/7 customer support service exclusively for...