Hotel profits plunge

Paris and London are among the European destinations whose hotel profits have fallen for two consecutive months

London: hotel profits plunge
London: hotel profits plunge

September saw hotel profits fall in several European cities - including London - for the second consecutive month, claims TRI Hospitality Consulting.

Paris hotels were the hardest hit, with gross operating profit down 31.7% to £78.7 per available room, compared to £115.3 in September 2007, according to the consultant's latest market survey, Hotstats.

In London, gross operating profit fell 12.3% over the period, to £84.3 per available room.

Profits also fell in Vienna and Amsterdam.

TRI Hospitality Consulting managing director Jonathan Langston said: "Falling demand in most European markets suggests a rapidly deteriorating trading environment. Hoteliers now have a fight on their hands sustain profitability."

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