HotStats, the global leader in monthly profitability data benchmarking for the hotel industry, has released findings of U.S. hotel performance for 2018, in its “Profit Matters: European Annual Hotel Performance Tracker 2019.”
The report tracked data for total Europe and individually highlighted performance for London, Paris, Barcelona, Moscow and Dublin. The report includes data on revenue and expense pertaining to the Rooms, Food & Beverage and Undistributed departments.
According to the published report, Europe as a whole performed positively in 2018, in both top- and bottom-line measures. Full-service hotels grew their room profits by 5.8% year-over-year, bolstered by gains in all revenue centres, which led to a 3.8% uptick in TRevPAR.
“Despite challenges, hoteliers drove healthy top-line numbers. That, coupled with deftly sidestepping some expense hurdles, equated into strong profitability for the year,” said Pablo Alonso, CEO of HotStats. “In order to continue the momentum, hoteliers will need to remain cost conscious and revenue focused in order to maximize flow-through.”
HotStats provides a unique profit-and-loss benchmarking service to hoteliers from across the globe that enables monthly comparison of hotels’ performance against competitors. It is distinguished by the fact that it maintains in excess of 500 key performance metrics covering 70 areas of hotel revenue, cost, profit and statistics, providing far deeper insight into the hotel operation than any other tool. The HotStats database totals millions of hotel rooms worldwide.