Thistle boosts revenues

31 August 2004
Thistle boosts revenues

UK-based Thistle Hotels saw revenue per available room (revpar) increase by 4.2% in the year to 30 June, owner BIL International said today.

Total revpar increased to £47.99, from £46.05 during the previous 12 months.

The gains were driven by a 6.9% rise to £56.91 in London, where the majority of the group's hotels are situated.

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Thistle Marble Arch: due a makeover
But in Thistle's provincial properties, revpar dipped by 0.5% to £36.99. BIL said it expected the gains in both occupancy and room rates seen since early 2004 to continue, in line with the general trend within the UK hotel market. Thistle's total turnover increased by nearly 4% to £291.7m, up from £280.9m a year earlier. London was again the driving force, with sales increasing to £170m, from £158.3m last year. Sales in the provinces dipped slightly, to £121.8m. BIL added that it would continue to upgrade its "gateway" London hotels, including the Thistle Tower, Thistle Marble Arch, Thistle Victoria, Royal Horseguards and One Whitehall Place, and Thistle Charing Cross. Key statistics:London
20042003
Occupancy79.6%77.5%
Average room rate£71.50£68.71
Revpar£56.91£53.25
Revenue£170m£158.3m
Provincial
20042003
Occupancy66.4%67.0%
Average room rate£55.71£55.48
Revpar£36.99£37.17
Revenue£121.8m£122.6m
Total
20042003
Occupancy73.7%72.8%
Average room rate£65.11£63.25
Revpar£47.99£46.05
Revenue£291.7m£280.9m
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