Farnborough Airshow boosts hotel profits

Farnborough event credited with bolstering London chain hotel profits

Farnborough International
Farnborough International

The Farnborough Airshow is credited with boosting London hotel profits in July.

TRI Hospitality Consulting's monthly UK chain hotels performance report, Hotstats, which is based on information gathered from 510 properties, has linked a growth in hotel profits with the Farnborough event.

The report attributes a 19.8% increase in gross operating profit - up to £80.27 per available room per day - compared to July 2007, recorded by London chain hotels to the influx of visitors to the Farnborough Airshow.

More than 132,600 business visitors and 153,000 consumer visitors - a 5.8% increase on the previous show in 2006 - attended the event on 14-20 July.

The consultancy's director, Charles Scudamore said: "The healthy boost that the Farnborough event gave to rates was particularly welcome in this uncertain economic climate."

Outside London, however, UK chain hotels did not fare so well. A 3.2% fall - equivalent to £36.26 per day - in daily gross operating profit per available room was recorded in July by provincial hotels, despite a 0.3% increase in total sales.

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