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STR Analytics 2013 Host Almanac
According to the latest data the US hotel industry brought in profits of USD 58 million last year, which is just short of the peak seen in 2007. According to the STR Analytics 2013 Host Almanac total revenues in the hotel industry increased by 13.4 per cent to total USD 162 billion including a net operating income of just short of USD 40 billion.
"While it's encouraging that the gross numbers for 2012 is near record highs, many properties are still not back to peak profit," STR Analytics director Carter Wilson said in the report. "Luxury and upper upscale properties are leading the charge back to profitability, but there are still a lot of struggles in the middle and lower chain scale segments."
The strong growth in profits comes despite only moderate revenue growth of 5.2 per cent according to the Almanac, this represents a slowdown on 2011 when revenue grew by 8.8 per cent according to STR. The slow revenue growth was made up for by tighter controls on costs, with only a 2.3 per cent increase in department expenses.
Other highlights of the 2013 HOST Almanac:
For the first time, STR collected over 90 additional line items of income and expense from participating properties. Highlights from the additional lines reported include:
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