Group Demand, Weekday Business Travel Fuel Hotel Profitability in Top US Markets
Miami Hotels Lost Some Share of Total Revenue, Gross Operating Profit to New York, DC
Surges in weekday demand and pricing power across the top 25 hotel markets helped drive positive changes in hotel profitability for full-year 2023.
Expense Growth Outpaces Revenue Growth at US Hotels in 2023
Total Hotel Operating Expenses Grew by 9.4% Year Over Year
In the U.S., expenses associated with operating a hotel outpaced revenue growth in 2023.
US Hotel Profitability Increases, Led by Top 25 Markets
Slowing Growth in Labor Costs Among Positive Factors
The latest U.S. hotel industry profit-and-loss data from CoStar shows that labor costs are easing and profitability growth is being led by the top 25 largest hotel markets.
Bottom Line Takeaways: U.S. Full-Service Hotels Struggled in September
Limited-Service Properties Fared Better
Overall, U.S. hotel profitability did not see significant changes in September.