SINGAPORE, 9 February 2022: 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% of its pre-pandemic comparable.
Europe
Moscow’s GOPPAR (USD38.88) was 80% of its comparable 2019 level. Paris (USD60.00) was the next closest market at 33%. Amsterdam (USD10.53) recaptured just 10% of 2019 GOPPAR.
Middle East
Helped by Expo 2020, Dubai’s GOPPAR reached USD89.68, which was 95% of 2019. Qatar (USD42.07) came in a close second at 94%. Oman was the only market to show a negative GOPPAR level (-USD2.77), 107% below 2019.
Asia Pacific
Shanghai’s GOPPAR (USD29.67) was 75% of its pre-pandemic comparable, followed by Beijing (USD19.33), which reached 38%. Bangkok’s GOPPAR level was in negative territory for the year (-USD12.24), which was 122% below pre-pandemic levels.
North America
Miami’s GOPPAR reached USD116.81, 114% of the pre-pandemic comparable. Behind Miami, Tampa’s GOPPAR level (USD76.51) came in at 92% of 2019. San Francisco/San Mateo’s GOPPAR (USD1.78) was furthest away from its pre-pandemic comparable at just 1%.
South America
Rio de Janeiro’s GOPPAR came in at USD11.66, which was 49% of the pre-pandemic comparable. São Paulo (USD7.06) saw the next-highest GOPPAR comparison (27%). Lima (USD6.53) was at just 16% of 2019.
(Source: STR)
