Key Performance Indicators
October 2018 vs. October 2017
RevPAR: +5.0% to $315.16
TRevPAR: +5.1% to $429.56
Payroll: -0.2 pts. to 26.0%
GOPPAR: +5.5% to $225.23
U.S. hotels recorded their highest level of profit per room for the year in October, attaining revenue increases across all departments despite mounting costs, according to the latest full-service hotels report from HotStats.
In particular, the post-season success of the Red Sox boosted October hotel performance in Boston. The city achieved a robust year-on-year increase in profit in October, as the Red Sox hosted two World Series games and a number of playoff match-ups.
As a result of the burgeoning demand levels, hotels in the city were able to record a 5.5 percent year-on-year increase in GOPPAR to $225.23—a peak for 2018.
Year-on-year increases across all revenue departments led the growth in Boston hotel profits. These included rooms (up 5.0 percent) and food and beverage (up 4.7 percent) on a per-available-room basis. This contributed to a 5.1 percent increase in TRevPAR to $429.56.
Despite the year-on-year increase in October, profit per room at hotels in the city for year-to-date 2018 is still 1.6 percent behind the same period in 2017, underlining the challenging operating conditions in the city this year.