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De Vere profits up by 3.2%

25 February 2005 by
De Vere profits up by 3.2%

De Vere has announced a 2.3% increase in total turnover for the first 20 weeks of its new financial year.

Within the group, turnover at De Vere Hotels was up by 6%, with revpar up by 4.1% on the previous year.

The Village Hotel and Leisure brand had turnover growth of 8.7% and revpar was up by 3.2%. Sales at Greens - the brand's health and fitness chain - were up by 6.1%.

The group experienced lower occupancy over the Christmas period but reported improving demand in the corporate sector.

Peter Daresbury, chairman of De Vere, said the figures kept the hotel group in line with its goal of a 10% return on capital by the end of the 2006-07 financial year.

by Emily Manson

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