Miami, Dubai lead global hotel profit recovery

Miami and Dubai led the major global markets in hotel profit recovery for 2021, according to STR's full-year P&L data. Miami’s gross operating profit per available room beat 2019 levels by 14 percentage points, while Dubai, United Arab Emirates, reached 95 percent of its prepandemic comparable. 

Market Outliers 

North America: Miami’s GOPPAR reached $116.81, which was 114 percent of the prepandemic comparable. Behind Miami, Tampa, Fla.’s GOPPAR level ($76.51) came in at 92 percent of the 2019 comparable. San Francisco/San Mateo’s GOPPAR ($1.78) was furthest away from its prepandemic comparable at just 1 percent. 

South America: Rio de Janeiro’s GOPPAR came in at $11.66, which was 49 percent of the prepandemic comparable. São Paulo ($7.06) saw the next-highest GOPPAR comparison (27 percent). Lima, Peru, ($6.53) was at just 16 percent of the 2019 comparable. 

Europe: Moscow’s GOPPAR ($38.88) was 80 percent of its comparable 2019 level. Paris ($60) was the next closest market at 33 percent. Amsterdam ($10.53) recaptured just 10 percent of 2019 GOPPAR.  

Middle East: Helped by Expo 2020, Dubai's GOPPAR reached $89.68, which was 95 percent of the 2019 comparable. Qatar ($42.07) came in a close second at 94 percent. Oman was the only market to show a negative GOPPAR level (-$2.77), which was 107 percent below the 2019 comparable. 

Asia Pacific: Shanghai’s GOPPAR ($29.67) was 75 percent of its pre-pandemic comparable, followed by Beijing ($19.33), which reached 38 percent. Bangkok’s GOPPAR level was in negative territory for the year (-$12.24), which was 122 percent below prepandemic levels.