US Hotel Profitability Makes Strides, But Unevenly Across Industry
Year to Date, Total Revenues Are About 84% of 2019 Levels
Hotel profitability has come a long way since the emergence of the COVID-19 pandemic, and particularly in the past few months, according to data from STR, CoStar's hospitality analytics firm.
Trends in U.S. hotel industry profit-and-loss data reveal that food and beverage revenues are still "slow to come back," and are at only about 62% of 2019 levels year to date, said Joseph Rael, senior director of financial performance at STR, who presented during the "Pushing the P&L Reset Button" panel at the Hotel Data Conference.
