US hotel profitability stalled in September
US hotel profitability stalled in September
04 NOVEMBER 2020 10:31 AM

STR's September P&L data shows U.S. hotels reported a third consecutive month with single-digit profitability, but improvements in year-over-year comparisons stalled.

BROOMFIELD, Colorado—The U.S. hotel industry reported a third consecutive month with single-digit profitability, but improvements in year-over-year comparisons stalled, according to STR‘s September monthly P&L data release.

In a year-over-year comparison with September 2019, the industry reported the following:

• GOPPAR: -91.7% to US$8.14
• TRevPAR: -72.4% to US$68.58
• EBITDA PAR: -109.3% to US$-7.03
• LPAR (Labor Costs): -62.1% to US$31.94

Previous monthly GOPPAR comparisons came in at -91.3% (August), -93.3% (July), -105.4% (June) and -117.7% (May).

“GOPPAR came in a bit higher than August on an absolute basis, but for the first time since May, industry performance moved further away from pre-pandemic levels,” said Audrey Kallman, operations analyst at STR. “Among the findings from September data, we saw that urban properties are the only location type still operating without profitability, while the small metro and interstate hotels continue to operate with the highest profitability. Additionally, catering & banquet revenues are only 15% of what they were last year due to group business being virtually non-existent.”

“One positive development is the number of top markets with positive GOPPAR increased from eight in August to 12 in September.”

Full, complimentary September profitability slides are available HERE. Industry stakeholders interested in Monthly P&L participation should contact Those interested in subscribing to reports should contact their account manager or

Key profitability metrics:

TRevPAR - Total revenue per available room
GOPPAR - Gross operating profit per available room
EBITDA - Earnings before interest, income tax, depreciation, and amortization
LPAR - Total labor costs per available room

About STR
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. 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. For more information, please visit and

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