WASHINGTON—A recent increase in U.S. hotel labor costs reflects a normalizing business mix and significant gains in group demand, according to September year-to-date P&L data from CoStar. U.S. Hotel Performance September 2023 YTD Per-Available-Room Metrics (Percentage change from September 2022 YTD)GOPPAR: $75.74 (up 6.2 percent)TRevPAR: $208.34 (up 8.6 percent)EBITDA PAR: $52.95 (up 5.1 percent)LPAR (Labor Costs): $69.36 (up 13.1 percent) “September labor costs were higher than the summer months even though overall demand was lower. […]

The post CoStar: U.S. Hotel Labor Costs Normalize Business Mix appeared first on LODGING Magazine.

This post was originally published on this site