London hotels achieve profit increase

4th March 2008, 11:23am

A rise in room rates has enabled London's chain hoteliers to increase profit in January, according to latest figures from TRI Hospitality Consulting.

Gross operating profit grew by 4.9% in the capital to reach £47.97 per available room – up from £48.72 in January 2007.

Meanwhile room rates have soared by 6.5% to £111.02, up from £104.28 during the same period last year. There was no change in occupancy.

David Bailey, deputy managing director of TRI, commented on these figures: "January is historically the weakest month of the year for hotels, so despite no change in volume it is encouraging to see London's hoteliers still pushing rate upwards."

And there was little change for the province hotels, with occupancy slightly dropping by 0.6 points, and room revpar (revenue per available room) increasing by 2.1%.

Weblink:

www.trihospitality.com

Related Articles:

• 25 Feb 2011 - London hotels experience slow down in growth
• 27 Jan 2011 - TRI Hospitality Consulting reports profit growth in London
• 25 Jun 2009 - Recession has less impact on UK hotels
• 22 May 2009 - London occupancy stays above 80%
• 28 Apr 2009 - Lower hotel room rates keep occupancy high
• 27 Apr 2009 - UK hotel managers are more optimistic
• 24 Apr 2009 - UK hotels experience heavy falls in profit
• 30 Mar 2009 - Mixed performance across key city hotel markets
• 25 Mar 2009 - Profit down by 17% at London hotels

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