Miami and Dubai lead the recovery of the global hotel market
The data comes from an investigation published today by STR
Miami and Dubai led major global markets in hotel profit recovery for 2021, according to STR's full-year profit and loss data release.
Miami's gross operating profit per available room (GOPPAR) exceeded 2019 levels by 14 percentage points, while Dubai reached 95% of its pre-pandemic peer.
Here are the market outliers for each region:
Moscow's GOPPAR ($38.88) was 80% of its comparable 2019 level. Paris ($60.00) was the next closest market at 33%. Amsterdam ($10.53) recovered just 10% of GOPPAR from 2019.
With the help of Expo 2020, Dubai's GOPPAR reached US$89.68, which was 95% of the 2019 comparable. Qatar ($42.07) came in second with 94%. Oman was the only market to show a negative GOPPAR level (-$2.77), which was 107% below the 2019 comparable.
Shanghai's GOPPAR ($29.67) was 75% of its pre-pandemic peer, followed by Beijing ($19.33), which reached 38%. Bangkok's GOPPAR level was in negative territory for the year (-$12.24), 122% below pre-pandemic levels.
Miami GOPPAR reached US$116.81, which was 114% of the pre-pandemic comparable. Behind Miami, Tampa's GOPPAR level ($76.51) came in at 92% of its 2019 peer. San Francisco/San Mateo's GOPPAR ($1.78) was the furthest from its pre-2019 peer. pandemic with only 1%.
The GOPPAR of Rio de Janeiro reached US$11.66, which was 49% of the comparable figure prior to the pandemic. São Paulo ($7.06) saw the next highest GOPPAR comparison (27%). Lima ($6.53) was only 16% lower than the comparable in 2019.