Boston Hotel Trends Report - 2018 Edition
When ancient mariners set sail for distant lands, they fundamentally had two goals in mind: 1) to gain the knowledge or the treasure that represented the purpose of the trip and, 2) return home safely. The journey that began with the arrival of the Great Recession of 2008 and 2009 saw a calming of the stormy seas in 2010, which was then followed by a protracted period of prosperity that continued through 2017 – lots of treasure!
As we report herein, U.S. hoteliers enjoyed an eighth consecutive year of increasing profits in this past year despite another slowdown in the rate of revenue growth. Specifically, total operating revenue increased by 2.0 percent in 2017 for the average hotel in the survey sample. Fortunately, by limiting the growth in operating expenses to 1.9 percent, managers at the Trends® properties realized a 2.2 percent increase in gross operating profits (GOP) for the period.
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