Hotel operating profits hit 84% of 2019 levels

The gross operating profit of hotels in the US has risen to 84% of 2019 levels. “While improvement in each of the key metrics can be seen as a win, we must remember many hotels are still being hit hard financially, and labor costs remain depressed when compared with pre-pandemic levels, meaning hotel staffs are doing a lot more with a lot less help,” said Joseph Rael of STR.