Miami, Florida, and Dubai led the world markets in hotel profit recovery in 2021, according to STR’s P&L data release for the full year. Miami’s GOPPAR exceeded its 2019 comparable by 14 percentage points, while Dubai reached 95% of its pre-pandemic comparable.
Here are the market outliers by region:
North America
Miami’s GOPPAR was US$116.81, a 114% increase from its pre-pandemic comparable, followed by Tampa, whose GOPPAR level of US$76.51 was 92% of the 2019 comparable. At US$1.78, San Francisco/San Mateo’s GOPPAR was the furthest away from its 2019 level at only 1%.
South America
Rio de Janeiro’s GOPPAR was US$11.66, 49% of its 2019 comparable, followed by Sao Paulo’s GOPPAR of US$7.06 which reached 27% of its pre-pandemic comparable. At US$6.53, Lima’s GOPPAR was only 16% of its 2019 comparable.
Europe
At US$38.88, Moscow’s GOPPAR was 80% of its pre-pandemic level, followed by Paris (at US$60) at 33%. At US$10.53, Amsterdam recovered only 10% of its 2019 comparable.
Middle East
Boosted by the Expo 2020, Dubai’s GOPPAR came at US$116.81, while Qatar (US$42.07) followed with GOPPAR recovering 94% of its pre-pandemic level. Oman was the only market to record a negative GOPPAR at -US$2.77, a 107% decline from its 2019 level.
Asia Pacific
At US$29.57, Shanghai’s GOPPAR jumped 75% of its pre-pandemic comparable, followed by Beijing (US$19.33) which recovered by 38%. Only Bangkok registered a negative GOPPAR in this market with -US$12.24, which was 122% below its 2019 level.