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Hotel's revenue and profit continues to fall

3rd March 2009, 8:00am

The trend of falling occupancy, revenue and profit across key European hotel markets continued during January, according to the latest HotStats survey by TRI Hospitality Consulting.

Occupancy was down 3.3 percentage points to 70% in London and in Paris down by 3.5 points to 69.3%. Profit fell back by 20.6% in Paris and 21.5% in London.

Average room rate dropped by 8.4% in the UK capital compared to -3.7% in Paris, although Paris had the highest average room rate and the best room revenue performance, making it number one for profit with daily IBFC of €55.13 per available room.

Meanwhile in Vienna the sample of international branded hotels saw daily profit – expressed as income before fixed charges (IBFC) – decline by nearly two thirds to just €9.80 per available room. In Prague profit more than halved and in Amsterdam the decline was 45.2%. The only city in the survey not to report a double-digit decline in profit was Hamburg.

Jonathan Langston, managing director, commented on the results: "The fixed payroll component tends to take up a greater percentage of total revenue at the start of the year when sales are generally at their weakest. This January's year-on-year falls in revenue have heightened this trend further, particularly in Austria which has strong labour laws and a high standard of living."


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