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August 29, 2014
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UK: London's profitability falls for third month

The profitability of London's hotels fell for the third consecutive month in July, according to the latest HotStats UK Chain Hotels Market Review.

But while the capital declined, York was reaping the benefits of hosting the departure of the second Tour de France stage as hoteliers registered increases in total revenue per available room (TRevPAR) and total gross operating profit (GOPPAR) by 9.5 per cent and 8.4 per cent respectively.

According to the latest HotStats, despite a 0.3 percentage point drop in occupancy, hotels in York experienced a double digit increase in revenue per available room (RevPAR), thanks to a 12.7 per cent surge in the average room rate. 

A huge boost in meeting room hire per available room (up by 41.4 per cent) led to a surge in total revenue per available room (TRevPAR) of 9.5 per cent. 

Hotels in the North West also experienced a 22.2 per cent growth in gross operating profit, and managed to increase ARR by 11.5 per cent.

Read more at MeetPie.com...

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