Benchmarks · Hotels
Hotels:
figures with primary sources
10 figures from public filings (Host, Marriott — SEC), HVS and CBRE research, and Russian market data (Nikoliers, verified against the release): RevPAR and ADR, operating economics down to the F&B department, and development cost per key.
RevPAR & ADR
| Metric | Value | Period | Source |
|---|---|---|---|
| Comparable hotel RevPAR (Upper-Upscale portfolio) | $216.06/night | FY2024 | Host Hotels & Resorts FY2024 results (8-K/10-K, SEC) |
| System-wide RevPAR growth, worldwide | 4.3% | FY2024 | Marriott International Q4/FY2024 results (10-K / press release) |
| Net rooms growth | 6.8% | FY2024 | Marriott International Q4/FY2024 results |
| ADR, Moscow (all categories) | 9,613 ₽/night | FY2024 | Nikoliers, "2024 Results: Russia/Moscow/St Petersburg Hotel Market" |
Operating economics
| Metric | Value | Period | Source |
|---|---|---|---|
| GOP margin (industry-wide) | 0.38 | 9M 2025 | HotStats/hoteldata.com Q3 2025 Profit Report |
| Expense vs revenue growth | expenses above GOP +4.1% YoY, below GOP +3.6% vs revenue +2.3% (2024) | FY2024 | CBRE: All Eyes on Operating Costs in 2025 |
| F&B department profit margin | 0.29–0.29 | H1 2025 | CBRE: Hotel Food and Beverage — A Bright Spot in 2025 |
| F&B department expense split | labor 59.4%; COGS 24.0%; other 16.6% of department expenses | H1 2025 | CBRE: Hotel Food and Beverage — A Bright Spot in 2025 |
Development cost
| Metric | Value | Period | Source |
|---|---|---|---|
| Development cost per key (median, all classes) | $219,000/key | FY2024 | HVS US Hotel Development Cost Survey 2025 (2024 budgets) |
| Development cost per key (median, by class) | select-service $223k; full-service $409k; luxury >$1,057k; limited-service/midscale ext-stay $167-169k; upscale ext-stay ~$265k | FY2024 | HVS US Hotel Development Cost Survey 2025 |
How to read this
What to know about these figures
- Host's comparable RevPAR covers an upper-upscale REIT portfolio; Marriott's system-wide figure spans the whole brand mix worldwide — different measurements, compare with care.
- GOP margin is before fixed charges, insurance and property taxes; hotel EBITDA runs notably below GOP.
- HVS development costs are medians of 2024 budgets; the luxury tail reaches $2M per key.
- Russian figures (Moscow ADR) are ruble-denominated and not directly comparable to dollar rows.
Build your hotel model
Rootsmodel assembles a three-statement hotel model — keys × occupancy × ADR, departments, seasonality — with live Excel formulas checked against industry ranges.