Secret garden 18 October 2019 After months of secrecy the Newt has opened its gates to a luxurious hotel, extensive gardens, cyder press and restaurant in the core of the Somerset countryside
In this week's issue... Secret garden After months of secrecy the Newt has opened its gates to a luxurious hotel, extensive gardens, cyder press and restaurant in the core of the [...]
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Firmdale Hotels enjoys 9.2% revenue bounce ahead of third New York opening

02 August 2019 by
Firmdale Hotels enjoys 9.2% revenue bounce ahead of third New York opening

the year to 31 January 2019.

The group's eight London hotels, including Ham Yard (pictured), winner of the Hotel of the Year - Independent award at the 2018 Cateys - saw revenue increase by 4.7% to £106.8m.

The average room rate across the London properties increased by 4.1% in the period to £382, while average occupancy saw a slight uptick to 88.6%. Food and beverage revenues in London also saw slight growth of 1.1% to £40.7m.

In New York, Firmdale's two hotels brought in revenue of $70m, up 21.6% on the year before. The group said that its Crosby Street hotel, which has an average room rate of $977 and average occupancy of 84%, is one of Manhattan's highest yielding.

Group-wide earnings before tax, depreciation and exceptional items increased by 43% to £25m.

On the back of the success, the group has announced it is planning a third hotel in New York. The Warren Street hotel will open in the city's downtown Tribeca area, between Greenwich Street and Broadway.

The 11-storey hotel will have 70 bedrooms and suites, as well as a number of apartments available for short- and long-term stays. The ground floor will include a restaurant, drawing room and orangery, as well as several event spaces.

Top 100: Tim and Kit Kemp, Firmdale Hotels >>

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