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Hotel revenue reaches 50% of 2019 level
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4 May 2021

BROOMFIELD, Colorado—Total revenue for U.S. hotels reached 50% of the comparable 2019 level, according to 
STR‘s March 2021 monthly P&L data release. 

GOPPAR, TRevPAR and EBITDA PAR came in higher than any month since February 2020. 
  • GOPPAR: US$26.79 
  • TRevPAR: US$86.61 
  • EBITDA PAR: US$12.77 
  • LPAR (Labor Costs): US$27.66 
Amid hiring difficulties, total labor costs were just 60% of the figure reported for March 2019. 

“We have seen continued improvement in room revenue, but with little coming in from F&B and other departments, industry TrevPAR is not gaining as much steam,” said Raquel Ortiz, STR’s assistant director of financial performance. “At the same time, however, the lack of F&B expenses is allowing profit margins to grow closer to normal. Though other revenues are up compared with recent months, we don’t expect to see a significant boost in those numbers until group demand resurfaces.

“Fortunately, not all hotels are struggling. Hotels with enough demand to achieve occupancy levels above 50% have been able to turn a profit. This is especially true for the limited-service segment, where 68% of hotels have remained profitable. These margins are of course at reduced operations in a lot of cases, so some full-service hotels are operating more like limited-service with far less F&B offerings, and some limited-service hotels are operating like extended-stay properties with less daily room cleanings. Overall, profitability is recovering at a slightly quicker pace than anticipated, although the industry has a long way to go.” 
Industry stakeholders interested in Monthly P&L participation should contact MonthlyPnL@STR.com. Those interested in subscribing to reports should contact their account manager or info@STR.com.

Key profitability metrics:
TRevPAR - Total revenue per available room
GOPPAR - Gross operating profit per available room
EBITDA - Earnings before interest, income tax, depreciation, and amortization
LPAR - Total labor costs per available room
A note to editors: All references to STR data and analysis should cite “STR” as the source. Please refrain from citing “STR, Inc.” “Smith Travel Research” or “STR Global” in sourcing.

Additional Performance Data
STR’s world-leading hotel performance sample comprises 68,000 properties and 9.1 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.


About STR
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit
str.com and costargroup.com.

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