Hotel profitability dropped by 11.4% across the country in 2009, according to TRI Hospitality Consulting.
The decline was steepest in the provinces, where gross operating profit per available room (GOPpar) declined by 15.5% to £28.51, down from £33.73 in 2008.
Profitability in the regions was hit by a 7.8% fall in average room rate to £68.65 and by a 2.3 percentage point drop in occupancy to 68.2%.
London hotels did not escape unscathed by the economic chill, with GOPpar dropping by 7.8% to £58.64 (2008: £63.59) on the back of a 6% slide in average room rate to £110.82 and a 0.4 percentage point shrinkage in occupancy to 80.3%.
The chain hotels survey is compiled by Tri Hospitality Consulting.
UK HOTEL PERFORMANCE BY YEAR
DEFINITION OF TERMS
Occupancy is that proportion of the bedrooms available during the period which are occupied during the period.
Room rate is the total bedroom revenue for the period divided by the total bedrooms occupied during the period.
Revpar is the total bedroom revenue for the period divided by the total available rooms during the period.
Payroll% is the payroll as a percentage of total revenue.
IBFCpar is the income before fixed charges divided by the total available rooms.
GOPpar is the total gross operating profit for the period dividedby the total available rooms during the period
Published by: The Caterer