Home Travel News & Insights CoStar Reports Labor Costs Kept U.S. Hotel GOPPAR Down in June

CoStar Reports Labor Costs Kept U.S. Hotel GOPPAR Down in June

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CoStar Reports Labor Costs Kept U.S. Hotel GOPPAR Down in June

CoStar Reports Labor Costs Kept U.S. Hotel GOPPAR Down in June

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June 2023 per-available-room metrics (% modification from June 2022)

  • GOPPAR: US$ 91.37 (-1.4%)
  • TRevPAR: US$ 237.12 (+4.8%)
  • EBITDA PAR: US$ 66.78 (-5.6%)
  • LPAR (Labor Costs): US$ 75.48 (+13.4%)

“Labor expenses continued to increase year over year, growing almost 3 times the rate of overall income,” stated Raquel Ortiz, STR's director of monetary efficiency. “That boost, connected with greater development in other cost types, triggered a revenue decrease from last June. Regardless of the year-over-year decrease, the GOPPAR level was enhanced from May, and with cooling inflation, genuine GOPPAR and TRevPAR were up month over month for the very first time given that March.”

Thirteen of the Top 25 Markets saw GOPPAR levels listed below June 2022, with San Francisco revealing the most affordable index (at 52% of 2022 levels). Las Vegas was the only other market to report a GOPPAR index listed below 80% (at 68% of 2022 levels).

“Year to date through June, the Top 25 Markets were still $2 behind 2022 in GOPPAR and 3 portion points behind the previous year's GOP margin,” Ortiz stated. “These significant markets still have some ground to cover as the year advances.”

CoStar is a leading company of online realty markets, details and analytics in the home markets. For additional information about the business and its product or services, please see www.costargroup.com.

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