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.