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The revpar
noun
Revenue per available room: a profitability metric used by hotels.
Exact(1)
"Even with the intermediate scenarios, the RevPar will not rebound to 2002 levels.
Similar(59)
Revenue per available room, known in the industry as revpar, plunged 17 percent in 2009, according to Smith Travel Research, the biggest annual decline since the firm began tracking the data in 1987.
For the third quarter, full-service RevPAR was up 7%, versus 10.3% for the same period last year; budget was up 1.2%, versus 4.7%.
The key drivers were RevPAR growth of 2.0% and net system growth of 3.6%, consistent with medium term guidance.
Colliers, the research firm, expects revpar to climb 5.9 percent in 2011 and 10.6 percent in 2012, and rates to rise 3.8 percent in 2011 and 6.3 percent in 2012.
Worldwide, RevPAR in the fourth quarter of 2003 rose 8.8% to $97.79.
(Hotels are always trying to maximize RevPAR, or the revenue pulled in from each available room).
Room Revpar of the three hotels increased 5.7% (y-o-y) with ADR (Average daily rent) slipping 3.3% (y-o-y).
Total Revpar of the three hotels increased 4.7% (y-o-y) as a result of 9.4% (y-o-y) jump in occupancy, offsetting 4.3% (y-o-y) decline in average revenue per occupied room.
Also weakness in oil producing states in the US is starting to annualise: RevPAR in oil producing states fell by 6.3% and the remainder grew +3.7%.
The JLL Hotels report notes that "with RevPAR (revenue Per Available Room, a key hospitality sector indicator) growth continuing to mirror GDP [gross domestic product] growth, and GDP growth still on an upward curve, RevPAR is anticipated to parallel this upward trend, albeit at a slower rate".
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