U.S. hoteliers got their first taste of the impact of COVID-19 on hotel profit and loss in March, and the bad taste in their mouths is likely to linger for a while.
Gross operating profit per available room (GOPPAR) was down 110.6% YOY 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 -10.4% in March 2015. March 2020 also marked the first time in the HotStats database that the U.S. recorded a negative GOPPAR value.