STR: Miami and Dubai Led Major Markets in Hotel Profit Recovery in 2021

Miami

LONDON — Miami and Dubai led the major global markets in hotel profit recovery for 2021, according to STR’s full-year P&L data release. Miami’s gross operating profit per available room (GOPPAR) beat 2019 levels by 14 percentage points, while Dubai reached 95 percent of its pre-pandemic comparable.

Noted below are the market outliers by each region:

Europe

Moscow’s GOPPAR (US$38.88) was 80 percent of its comparable 2019 level. Paris (US$60.00) was the next closest market at 33 percent. Amsterdam (US$10.53) recaptured just 10 percent of 2019 GOPPAR.

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Middle East

Helped by Expo 2020, Dubai’s GOPPAR reached US$89.68, which was 95 percent of the 2019 comparable. Qatar (US$42.07) came in a close second at 94 percent. Oman was the only market to show a negative GOPPAR level (down US$2.77), which was 107 percent below the 2019 comparable.

Asia Pacific

Shanghai’s GOPPAR (US$29.67) was 75 percent of its pre-pandemic comparable, followed by Beijing (US$19.33), which reached 38 percent. Bangkok’s GOPPAR level was in negative territory for the year (down US$12.24), which was 122 percent below pre-pandemic levels.

North America

Miami’s GOPPAR reached $116.81, which was 114 percent of the pre-pandemic comparable. Behind Miami, Tampa’s GOPPAR level ($76.51) came in at 92 percent of the 2019 comparable. San Francisco/San Mateo’s GOPPAR ($1.78) was furthest away from its pre-pandemic comparable at just 1 percent.

South America

Rio de Janeiro’s GOPPAR came in at US$11.66, which was 49 percent of the pre-pandemic comparable. São Paulo (US$7.06) saw the next-highest GOPPAR comparison (27 percent). Lima (US$6.53) was at just 16 percent of the 2019 comparable.

STR P&L Data Full Year 2021

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