AFTER A NEGATIVE profit turn in October, U.S hotels saw robust growth with a GOPPAR increase of 6.1 percent in November over last year, according to HotStats. It was the second-highest increase of 2019 while the year-to-date profit was almost flat with just a 0.3 percent increase.
A 1 percent increase in ADR leads to a RevPAR increase of 1.7 percent to $162.67 while TRevPAR was up 3.2 percent to $260.28, according to HotStats. The food and beverage front particularly saw strong revenues with a RevPAR increase of 4.1 percent.
“After an October dip, it’s good to see the U.S. hotel industry back up on the revenue and profit side, in what has been a rather choppy year,” said David Eisen, Director of Hotel Intelligence, Americas, HotStats. “Despite a strong November, the U.S. is set for slightly above to flat growth for the year.”
Los Angeles witnessed one of its best months of 2019, with a 7.3 increase in RevPAR and a 4.6 percent increase in TRevPAR.
However, New York City saw another low month of year-over-year comparisons with an 8.7 drop in RevPAR and a 1.6 percent drop in occupancy.