Improvement in group business, especially across the Top 25 Markets and upper-upscale chains, drove growth in U.S. hotel revenues and profits, according to 2023 P&L data from CoStar.
2023 per-available-room metrics (% change from 2022)
- GOPPAR: US$75.83 (+8.2%)
- TRevPAR: US$211.49 (+9.6%)
- EBITDA PAR: US$53.05 (+7.6%)
- LPAR (Labor Costs): US$71.56 (+13.2%)
“Total industry revenues and profits were well beyond 2022 levels as pricing power continued to outweigh the impact of softer leisure demand,” said Claudia Alvarado Cruz, senior analytics manager at STR. “A lift in corporate demand made improvements especially notable across the upper-upscale brands and major markets. New York City was the shining example with 47% growth in GOPPAR.”
