U.S. hotel profit reached 84% of 2019 level

Gross operating profit for U.S. hotels improved to 84% of the comparable 2019 level, according to STR’s June 2021 monthly P&L data release. Labor costs also rose from the previous month, and in comparison with 2019. Each of the key profitability metrics, on a per-available-room basis, came in higher than any month since February 2020, while labor was at its highest level since March 2020. Gross operating profit per available room: US$50.67 Total revenue per available room: US$131.81 Earnings before interest, income tax, depreciation, and amortization per available room: US$33.10 Total labor costs per available room: US$37.39 “After the industry…
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