Stakis hotels see occupancy rates rise
01 January 2000
Stakis has reported improved occupancy rates for its hotel division in its fourth quarter.
Occupancy rates improved by one percentage point for the 13 weeks to 2 October compared with the same period last year.
Also up were average room rates. In the quarter they increased by £1.57 year on year, to £41.61.
Acquisitions during the fourth quarter included the £2.75m Bath Hotel and the £5.9m Palace Hotel and Casino on the Isle of Man.
The improved performance follows a concentration by Stakis on core activities, cost-slashing and rebuilding profit margins.
