Hotels & assets
TRevPAR (Total Revenue Per Available Room)
Total revenue — rooms, food and beverage, spa, everything — divided by rooms available. It corrects RevPAR’s blindness to non-room revenue, though it remains blind to cost.
TRevPAR matters most where rooms are not the whole business: a resort with substantial food and beverage, a hotel with a large banqueting operation. Judging those properties on RevPAR alone measures a fraction of what they do.
It is still a revenue metric, though. It tells you what came in, not what was kept — which is what GOPPAR is for.