U.S. hotels boosted operating profit by about 13% last year, as the lodging industry benefited from a rebound in travel spending that fed room-rate increases, STR Analytics said in its HOST Almanac report.
Hotels in 2012 collectively generated an operating income (excluding items such as rent, amortization, depreciation and interest payments) of almost $40 billion on $162 billion in revenue, which was “just under” 2007 levels, according to STR.
Revenue rose 5.2%, though growth in revenue per available room (RevPAR) slowed to 4.7% from an 8.8% growth rate in 2011.
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