www.calodging.com May + June 2024 11 FINANCE Gross Operating Profit per Available Room (GOPPAR) is a comprehensive metric that evaluates your hotel’s financial performance by accounting for all revenue sources and deducting all operational costs. ± how much guests are willing to spend with you, which can guide you in tailoring your services or offerings. Relying on a single financial metric is not enough. By embracing a holistic view of your hotel’s financial performance, you can uncover valuable insights that lead to smarter business decisions and increased profits. Operational benchmarking, particularly through metrics like GOPPAR, provides a roadmap for success. For expert guidance and access to comprehensive financial data that can transform your hotel’s strategy, consider scheduling a demo with HotStats. CHLA members can access a complimentary regional report when they sign up with HotStats. Find out more by reaching out to [email protected]. Discover how to leverage data to refine your hotel’s financial management approach. TRevPAR, or Total Revenue per Available Room, goes beyond room sales to include all revenue sources like meals, spa services, and parking. This figure gives you a big picture look at your income streams, helping you see areas for growth or improvement. Looking at revenue on a per-room basis, whether the room’s booked or not, lets you evenly compare your hotel’s performance against others, regardless of size. And when you focus on the revenue from rooms that are actually occupied, you get a clear idea of
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