Regional hotels enjoying profit boost

Regional UK hotels will see a double-digit rise in gross operating profit per available room by the end of the year, according to a new forecast.

Hyatt Regency Birmingham hotel
Hyatt Regency Birmingham hotel
The economic research and consulting firm E-forecasting and HotStats, which provides profit and loss data to the hospitality industry, have launched new Hotel Market Profitability Forecasts reports covering major markets across the UK, Europe, Middle East and North Africa.

The companies claim the reports, real-time quarterly profitability forecasts, are the first of their type to present a full picture of the health of the hotel industry by focusing on occupancy, average room rate and rooms revenue per available room.

Their first forecasts suggest regional UK gross operating profit per available room (GOPPAR) will rise by the end of the year by 14.4%, while total revenue per available room (TRevPAR) will increase by 6.5%.

London’s year-on-year growth will be at a slower rate, with TRevPAR and GOPPAR going up in 2014 by 1.3% and 1.8% respectively.

The research predicts both the regional and London hotel markets will continue to grow in 2015.

Pablo Alonso, general manager of HotStats, said: "We are very excited about the new level of hotel market intelligence insights that our partnership with E-forecasting will allow us to bring to our current and future customers as well as to the industry as a whole."

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
How events can save the world

Crisis planning, sustainability, wellbeing and inclusion can cause difficulties for event organisers. So is it possible to host a truly ethical event?

Wellbeing makes 'good business sense'

Wellbeing makes 'good business sense'

Annie Metcalfe from Clear Partners says planners must adapt to the changing demands of incentive travel programmes.

Amex GBT appoints new general manager for meetings and events

Amex GBT appoints new general manager for meetings and events

Gerardo Tejado has held a number of commercial and client management roles at American Express GBT over the past 17 years.

Incentives are coming: 7 Game of Thrones-inspired destinations

Incentives are coming: 7 Game of Thrones-inspired destinations

From Croatia to Northern Ireland, the fictional land of Westeros has filming locations around the world ideal for meetings and events.

What does an HR expert look for in Best Places to Work accreditation?

What does an HR expert look for in Best Places to Work accreditation?

An independent HR consultant explains what judges are looking for in accreditation like C&IT's Best Places to Work.

Events budgets return to steady growth, Bellwether Report finds

Events budgets return to steady growth, Bellwether Report finds

UK companies increased their marketing spend in Q1 2019, in contrast to flatlining budgets at the end of last year.

'Unlocking the best parts of destinations' is key for event planners

'Unlocking the best parts of destinations' is key for event planners

Venues should use their expertise to help familiarise planners with a new destination, says panel at the C&IT Association Forum.

Case study: CoinGeekWeek conference

Case study: CoinGeekWeek conference

CoinGeek transformed The Mermaid London for its three-day conference on cryptocurrency and blockchain.

New senior account manager for Top Banana

New senior account manager for Top Banana

Natalie Benson joins from ACA Live and will work on finance, automotive and retail accounts.

Facial recognition will change the way we measure audience engagement

Facial recognition will change the way we measure audience engagement

This kind of technology could scientifically prove the value and impact of events, says Dan Broadberry from Brands at Work.

LATEST JOBS