The hotel industries in Amsterdam, Berlin, London, Moscow and Paris each reported improved profitability, but all remained well below pre-pandemic levels, according to STR‘s August 2021 monthly P&L data release.
Building on its launch in the U.S., STR now features monthly P&L data reporting in Europe, the Middle East, Asia Pacific, and the Americas (excluding U.S.).
Using U.S. dollar constant currency, August was the first month of the pandemic-era in which all five of these key European markets posted positive levels of gross operating profit per available room (GOPPAR). Moscow, which had reached as high as 98% of its comparable 2019 level back in May, led the major European markets with GOPPAR of US$44.87 (78% of 2019 comparable). Berlin, which had been at -12% of its 2019 GOPPAR in July returned to a positive level of US$12.60 in August. London showed slow and steady improvement over the summer months but remained at just 23% of 2019 GOPPAR in August at US$27.78.
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces.