UK: Scotland Hotel Profits Up on Independence Vote
The Scottish independence referendum in September had an unexpected result: a surge in profitability for Scottish hotels.
According to new data from HotStats, hoteliers saw gross operating profit per available room (GOPPAR) increase by 27.3 per cent for the month of September.
Despite no increase in occupancy, hotels in Scotland were able to push their average room rate up by 21.7 per cent to £113.87.
Bristol was another regional winner during the month, with significant year-on-year growth across all key performance indicators, including a 43.4 per cent increase in GOPPAR. This was a result of a 5.6 per cent uplift in occupancy to 84.8 per cent and a 17.6 per cent increase in the average room rate to £84.89. Meanwhile, profits from meeting room hire shot up by 18.9 per cent.
Milton Keynes hoteliers also recorded an incredible 43.1 per cent increase in GOPPAR, after pushing rates up 9.5 per cent to £77.50.