STR: Hotel F&B Performance Up Again In 2018
HENDERSONVILLE, Tennessee - U.S. hotel food-and-beverage revenue per occupied room (F&B RevPOR) increased 2.7% in 2018, according to total-year data from STR. F&B RevPOR reached US$112.67, up from US$109.73 in 2017 and US$106.92 in 2016. This growth reflected increases across all hotel classes with contributions from both food and beverage revenue sources.
Among F&B department revenue centers, catering & banquets experienced the most significant growth over 2017 with a 3.4% increase in revenue per available square foot.
"Innovation and creative use of public space continued to have a positive influence on hotel F&B results," Andrews said. "Hotel venue revenue per available seat grew 3.0% over the previous year."
In-Room Dining RevPOR was down 4.2%, and Andrews offered a reminder that this trend represents more self-serve, less costly alternatives to traditional room service and shifts to more communal options in hotel restaurants and bars.
Among major markets, F&B performance increases were common as Group business in the combined Luxury and Upper Upscale hotel segments bounced back. Same-store analyses of the Miami and Seattle markets confirmed the influence of group demand on Catering & Banquets RevPAS, which was up significantly in Miami and, contrary to industry performance, down compared to last year in the Seattle market.
About STR
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
Nick Minerd
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