De Vere results show increase in profits

TRADING at the four-star De Vere Hotels group is improving, according to the latest financial results from its owner, the Greenalls Group.

In the six months to 25 March, operating profit at the hotel group increased by 15.3% to £8m from £6.9m in the same period last year.

Achieved room rates increased by 6.2% to £47 per room, compared with first half rates last year of £44 and £45 in the second half of 1993. However occupancy rates in its UK hotels remained at 62%.

Meanwhile Greenalls Group's acquisition of Devenish last year helped other Greenall businesses to grow quickly.

Premier House, the pub restaurant and lodges division, increased its first-half profit by 72.7% to £5.9m. It benefited from the transfer of 30 houses from the Devenish estate and now operates 141 pub restaurants.