Finance & DevelopmentPhoenix Hotels Report Positive Performance in March

Phoenix Hotels Report Positive Performance in March

Phoenix hotels had a positive month of profit performance in March, according to the latest data tracking full-service U.S. hotels from HotStats. GOPPAR soared by 9.4 percent and hit $243.88, which was well ahead of the rolling 12 months to March 2019 at $100.63.

Profit & Loss Key Performance Indicators – Phoenix
March 2019 vs. March 2018

RevPAR: +3.0% to $254.68
TRevPAR: +5.7% to $458.83
Payroll %: -0.5 pts to 24.9%
GOPPAR: +9.4% to $243.88

March is typically a peak month for Phoenix hotels. Despite a 0.9 percentage-point decline in room occupancy, RevPAR increased 3 percent. As a result of the movement in revenue and costs, Phoenix hotels recorded profit conversion at 53.2 percent of total revenue in March.

Nationwide, U.S. hotels also recorded positive performance in March. TRevPAR hit a record high, thanks to a 6.8 percent year-on-year increase in non-rooms revenues, which offset a 0.6 percent decrease in RevPAR. U.S. hotels increased profit per room 3 percent. March was the fourth consecutive month of GOPPAR growth.

 


Keep up with the industry.

Subscribe to LODGING

RELATED ARTICLES

Dreamscape Hospitality Assumes Management of Three Hotels in Houston

HOUSTON, Texas—Dreamscape Hospitality announced that it has assumed management of three hotels in Houston, Texas. "We are excited to deepen our presence in Texas through...

Hilton Announces Plans to Debut Spark by Hilton in Puerto Rico

PONCE, Puerto Rico, and MIAMI, Florida—Hilton announced the signing of Spark by Hilton Ponce, marking the upcoming debut of the brand in the Caribbean...

Wyndham Announces Partnership With Cygnett

DELHI—Wyndham Hotels & Resorts announced a new strategic alliance with Cygnett Hotels & Resorts that will not only introduce its La Quinta by Wyndham...

New Pyramid Global Hospitality COO Continues Focus on Big Data to Benefit Owners

Pyramid Global Hospitality Chief Operating Officer Eric Habermann retired in April following seven years with the company and a nearly 40-year career in hospitality....

Grand Hyatt Kauai Resort & Spa Launches Scholarship Program

Grand Hyatt Kauai Resort & Spa, a 605-room resort, announced the launch of a scholarship program to support the continued education of its colleagues...

Hilton Surpasses 500 Hotels in Florida

MCLEAN, Virginia, and MIAMI, Florida—Hilton announced a major milestone as the company surpassed 500 open hotels across Florida. This growth was fueled in part...