CoStar: P&L Data Shows Improvement in Group Business
WASHINGTON—Improvement in group business, especially across the Top 25 Markets and upper-upscale chains, drove growth in U.S. hotel revenues and profits, according to 2023 P&L data from CoStar. U.S. Hotel Performance 2023 per-available-room metrics Percentage change from 2022GOPPAR: $75.83 (up 8.2 percent)TRevPAR: $211.49 (up 9.6 percent)EBITDA PAR: $53.05 (up 7.6 percent)LPAR: $71.56 (up 13.2 percent) “Total industry revenues and profits were well beyond 2022 levels as pricing power continued to outweigh the impact of softer […]
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