Thistle revenues rise

Sales at Thistle Hotels were up by 1.7% to £300.2m during 1999, the company said today in a trading statement.

Occupancy increased by 4% to 74.9% but average room rate fell by 2.7% to £67.33. This resulted in revenue per available room (revpar) rising by 1.2% to £50.43.

The figures exclude 36 hotels sold by Thistle during 1998 and 1999 as well as the Black Bull near Glasgow, the Wellesley in Leeds and the Dee Motel in Aberdeen, which are in the process of being sold.

It also excludes the company's hotel in Middlesbrough, which is currently closed.

In London, revpar for the year increased by 0.5% to £59.51. "Difficult trading conditions in the third quarter were compensated by an improved fourth quarter when revpar increased by 8.2% over the previous year," Thistle said.

Outside London, revpar for the year increased by 1.5% to £36.73. As with London, a weak third quarter of the year was followed by a stronger fourth quarter.

Thistle's five hotels in Aberdeen continued to be affected by a slowdown in North Sea oil business.

Thistle chief executive Ian Burke said: "It is too early to judge whether the improvement seen in the fourth quarter will continue through 2000."

Thistle now has 56 hotels.