TRI Hospitality Consulting reports profit growth in London

27th January 2011, 10:21am

London hotels have experienced a double-digit increase in profits, according to the latest HotStats survey from TRI Hospitality Consulting.

London RevPAR increased by 11.6% and average room rate in London was up 8.9% but it fell 0.9% in the provinces.

In the provinces, gross operating profit per available room (GOPPAR) dropped by 1.4%. This compares to the 13.9% rise in London.

Jonathan Langston, managing director, TRI Hospitality Consulting, said: "Although the Provincial hotel performance is subdued, it is still creditable given the underlying economic conditions in the last year.

"In contrast, the London performance is astonishing and surpassed 2008 levels, which bodes well for the next 12 months, particularly as the city still has growth associated with the Royal Wedding and Olympic Games to look forward to."

"It is important to delve deeper into the statistics to understand what is really going on. Even though RevPAR rose in the provinces, falling rate and rising costs led to falling profitability."

Related Articles:

• 25 Feb 2011 - London hotels experience slow down in growth
• 25 Nov 2010 - Hotels in provinces suffer in profitability levels, says TRI
• 27 Jul 2010 - Profitability at London hotels is soaring, says TRI
• 24 Aug 2009 - TRI partners with Visit London
• 22 May 2009 - London occupancy stays above 80%
• 23 Feb 2009 - TRI Hospitality Consulting wins hotel report award
• 09 Feb 2009 - UK hotels face most challenging conditions in 17 years
• 15 Dec 2008 - TRI nominated for 2009 Hotel Report Awards
• 10 Jun 2008 - UK hotels continue to rise in room rates
• 04 Mar 2008 - London hotels achieve profit increase
• 27 Feb 2008 - TRI wins Advisor of the Year title

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