- De Amerikaanske hotelyndustry sjocht har ynkomsten trochgean te klimmen.
- Yn Jeropa bliuwt hotelprestaasjes de boaiem skraabje.
- In Asia, China’s hotel industry’s performance has been consistent.
Global hotel performance is improving month by month. That’s the good news. The more pressing concern is if it will remain that way. The hotel industry remains fragile, dodging each and every new impediment thrown its way.
The newest snag has been the Delta variant, which has caused COVID cases to spike in many areas and thrown a wrench into the gradual rebound. Just this week, the European Union recommended that Americans be banned from nonessential travel to its member states after a rise in case counts in the U.S. This as the U.S. remains off limits to most European travelers.
Still, the hotel industry presses forward.
Though all regions have some time before they level out with pre-pandemic XNUMX numbers, month-to-month improvement is encouraging. The Feriene Steaten continues to see its revenue climb: RevPAR in July XNUMX was more than $XNUMX higher than the previous month and is now more than XNUMX% higher than where it was in April XNUMX, the nadir of hotel performance.
Occupancy escalated to XNUMX% in the month, helping fuel gains in total hotel revenue. Meanwhile, labor continues to trail, but as hotels, especially in resort markets, ramp back up, payroll is creeping up in step. Consider Miami Beach: Total payroll hit $XNUMX per available room in July XNUMX, only $XNUMX off its July XNUMX level and XNUMX% higher than at the same time last year.
Higher revenue is helping fuel better gross operating profit, with the U.S. hitting $XNUMX in the month, XNUMX% off at the same time in XNUMX.
EU Vax Rate Climbs
In Europe, where in the EU the vaccination rate is higher than the U.S., hotel performance continues to scrape the bottom. That could, however, change due to the successful rollout of vaccines, which has boosted sentiment throughout the continent from travelers and investors, alike.
Middle East Inconstant
After profit dips in February XNUMX and June XNUMX, GOPPAR trended up in July, hitting $XNUMX, only XNUMX% off its July XNUMX level and more than XNUMX% higher than in July XNUMX, when GOPPAR turned negative.
Revenue trends have closely mirrored profit trends, a product of controlled expense management, which has seen payroll numbers moderate after a spike in February that helped fuel the profit slowdown.
In Asia, Sina’s performance has been consistent. GOPPAR shot upward after its darkest depth in February. Now, as of July XNUMX, GOPPAR is $XNUMX higher than it was in July XNUMX, an astonishing feat and one likely fueled by the apparent fact that COVID cases in the country have dropped to near zero after a COVID spike.