As expected, March was a brutal month for the global hospitality industry as a result of the COVID-19 pandemic, according to HotStats data, with the U.S., Europe, Asia and Middle East all recording year-over-year profit drops of 100 percent or more.
In the United States, gross operating profit per available room was down 110.6 percent year over year to $-12.71. The triple-digit drop was by far the largest percentage decline ever recorded by HotStats since it started charting U.S. data. The previous high was a drop of -10.4 percent in March 2015. March 2020 also marked the first time in the HotStats database that the U.S. recorded a negative GOPPAR value.